Visual Effects House Asylum on Verge of Shutting Down

Asylum, a leading Santa Monica-based visual effects house, in on the verge of closing, according to several sources within the VFX community.

The company did not immediately respond to calls seeking comment.

Asylum, which opened roughly 11 years ago, has worked on big-budget features as well as TV commercials.

Recent projects include Unstoppable, The Sorcerer's Apprentice and  The Curious Case of Benjamin Button. In 2004, Master and Commander: The Far Side of the World earned company principal Nathan McGuinness an Academy Award nomination for best visual effects.

The Los Angeles VFX industry as a whole has been challenged with competition from shops in markets such as India, where salaries offer cost advantages, and Canada, where financial incentives are available.

Source: Hollywoodreporter.com