Bron, the finance and production company behind hit films like Joker, Licorice Pizza, Bombshell, and Judas and the Black Messiah, has made a shocking announcement. Co-founder Aaron J. Gilbert revealed that Bron has filed for bankruptcy. In a letter addressed to friends, partners, team members, and backers, Gilbert explained that Bron has sought creditor protection with the Supreme Court of British Columbia in Canada, as well as Chapter 15 in the U.S., which deals with cases involving multiple countries.
This news comes after a challenging period for Bron. Gilbert acknowledged the difficulties the company has faced in recent years, including the impact of the COVID-19 pandemic and labor strikes in the media industry. These factors, along with others, have made it impossible for Bron to continue its existing business.
Despite the financial circumstances, Gilbert assured that there are resources in place to support the company’s modified business operations during the ongoing proceedings. However, specific details about these operations were not disclosed.
Rumors of instability at Bron had been circulating, and in October, the company confirmed downsizing and staff reductions. The focus shifted to their core business as creative producers, emphasizing content creation in animation, gaming, live-action film, TV, and non-scripted projects. While there has been some turnover, Bron expressed excitement about continuing to build their intellectual property moving forward.
Bron has an impressive track record, having produced or executive produced over 125 productions since its establishment in 2010. Recent projects include HBO’s The Idol, the Sundance-debuting Americana, 65 starring Adam Driver, and the Thai cave rescue drama Thirteen Lives.
The pandemic has undoubtedly affected Bron’s operations, and films like Ghostbusters: Afterlife and House of Gucci didn’t perform as well as expected at the box office. Additionally, their slate deals with Warner Bros and MGM had come to an end.
In his letter, Gilbert expressed gratitude to friends, the Bron team, creative partners, production financing partners, corporate backers, representatives, and service providers for their support throughout the years. He emphasized the importance of continued support and patience during the restructuring process, promising to keep everyone informed.
This is undoubtedly a challenging time for Bron, but with the determination and resilience of its team, there is hope for a successful restructuring and a brighter future ahead.
[Andreas Wiseman contributed to this report]
