Visual effects firm behind "Life of Pi" goes bankrupt

"Rhythm and Hues has filed for Chapter 11 and most of us have been laid off," a Boing Boing reader wrote in an email Monday.

"The visual effects industry woke up Monday morning to news it had been dreading," Variety reported later that day. "One of its most admired companies, Rhythm & Hues, had been forced into bankruptcy."

R&H's "Life of Pi" (2012) just won four Visual Effects Society Awards, including the equivalent of Best Picture; as well as the BAFTA for visual effects. The company will file for Chapter 11 reorganization in Los Angeles.

They're laying off staff now, and the LA Times has more.