Axis Studios, a Scottish animation company that worked on Marvel’s streaming series *Eyes of Wakanda*, has announced it is going bankrupt.
Court records show the company failed due to a mix of financial difficulties, problems affecting the entire industry, and late payments from its customers.
Marvel’s *Eyes of Wakanda* is a four-episode animated series taking place in the *Black Panther* universe. The story centers on Wakandan warriors who journey through time to find valuable relics, with a particular focus on Noni, a former Dora Milaje warrior seeking redemption, voiced by Winnie Harlow. Unfortunately, despite being linked to Marvel, the animation studio Axis Studios experienced financial difficulties.
Discover the long-hidden mysteries of Wakanda! Get a first look at Marvel Animation’s #EyesOfWakanda, a 4-part series coming to @DisneyPlus on August 27th.
— Marvel Studios (@MarvelStudios) July 1, 2025
The company was a leading creator of animation and visual effects for movies, TV shows, and video games. They worked on popular titles like *Halo*, *Gears of War*, and *League of Legends*, and also produced content for streaming services like Amazon Prime Video and Netflix. Their film credits include *Otto* and *A Shaun the Sheep Movie: Farmageddon*.
Axis Studios, the visual effects company recently in bankruptcy proceedings, faced financial difficulties due to late payments and increasing expenses. According to court documents, the company was hit hard by a drop in projects after the pandemic, especially in the video game industry where most of its clients were located. The US writers’ and actors’ strikes also caused significant delays in production schedules, further impacting the company’s finances.
The documents also pointed out that the company’s way of doing business caused problems with its cash flow. According to the filings, the company typically worked on only a few large projects at a time, which could create financial strain until those projects were finished and paid for, or if there were long periods between receiving payments.
Despite having plenty of work scheduled for the future, Axis Studios faced increasing difficulties when new projects were delayed. By June 2024, the company couldn’t pay its employees or freelance workers on time. The studio’s leaders had been seeking advice for months before finally bringing in a professional to help with insolvency.
Axis Productions, the main company, reported a loss of $1.1 million on revenue of $32.6 million for the year ending November 30, 2023. With only $380,000 in cash, the company has limited ability to handle unexpected financial challenges.
The recent bankruptcy shows how tough it is for animation and visual effects companies, even those involved in big-name franchises. Despite a history of success, Axis Studios couldn’t overcome the instability of the industry, increasing expenses, and project delays, ultimately leading to financial collapse.
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2025-10-06 13:44