Magazine article Screen International

Alchemy Files for Bankruptcy

Magazine article Screen International

Alchemy Files for Bankruptcy

Article excerpt

Troubled US theatrical distributor Alchemy has filed for Chapter 7 bankruptcy with estimated liabilities of between $50m and $100m and creditors in the US and Europe.

In a statement on its web site Alchemy said it will "pursue an orderly liquidation" and has released its entire staff.

The company's bankruptcy filing says Alchemy has estimated assets of between $10m and $50m and creditors including Universal Pictures, 20th Century Fox and WME Entertainment in the US, Protagonist Pictures and The Works in the UK, Insomnia World Sales and Artedis in France and Adriana Chiesa Enterprises in Italy.

Alchemy has recently handled the US distribution of films including Meet The Patels (pictured), with $1.7m the company's highest grossing release, Gaspar Noe's Love, Sophie Barthes' Madame Bovary and Black Souls (Anime Nere).

At the 2015 Cannes festival Alchemy bought Yorgos Lanthimos' The Lobster (pictured) for the US, but those rights were sold on to A24. The film was released in May and has grossed $8. …

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