MUMBAI: Technicolor group outfit, visual effects studio, The Mill has closed its doors after 35 years of operation, with its US creative team promptly establishing a new venture called Arc Creative in partnership with Dream Machine FX, Variety has reported.

The closure, which took effect on Monday, comes amid ongoing financial difficulties at parent company Technicolor, which has begun shutting down parts of its business. More than 100 artists from The Mill US issued a joint statement to Variety expressing their shock but ultimate resolve to continue their creative legacy.
"While The Mill as we know it has shut its doors, its spirit, its passion, and its legacy live on through its amazing and talented people," the statement read.

Arc Creative will focus primarily on short-form work including advertising, game cinematics and trailers. The new venture's leadership includes former Mill US executive creative directors Robert Sethi and Gavin Wellsman, alongside managing directors Angela Lupo and Anastasia von Rahl.

Dream Machine FX chairman David Li told Variety: "We have always held The Mill in the highest regard and the shutting of its doors is a sad day for the entire industry."

Founded in London in 1990, The Mill earned numerous industry accolades including Cannes Lions, Clios and Visual Effects Society Awards. The studio was also the lead VFX house for "Gladiator," which won the Academy Award for Visual Effects in 2000.

The team is currently working to secure office space in Los Angeles and New York.