Jellyfish Pictures has issued an official statement following its shocking closure this week, according to Animation Xpress.Like so many other companies operating across the VFX, animation and wider creative industries, weve been battling hard in the face of strong headwinds over the past 12 months, a Jellyfish Pictures spokesperson shared. The long-tail impact of Covid, coupled with rising costs and the fall-out from the writer and actor strikes, have had a profound effect on our business.The statement continued, Over recent months, weve been working closely with our key stakeholders to find a path forward, including exploring all options for sale and investment, with the aim of putting in place a strong financial platform upon which we can build. While we continue to engage in these discussions and explore our options, we have today taken legal steps to protect the position of the business while we strive to find a way forward.The studio reportedly began experiencing financial distress last year following a downturn in their slate of animation projects in production. While the company states the unexpected shutdown is temporary, there is no current information on when operations will recommence. Workers supposedly will still be paid through March. Journalist, antique shop owner, aspiring gemologistL'Wrenbrings a diverse perspective to animation, where every frame reflects her varied passions.