EXCLUSIVE: At least 12 staff have left the UK outfit just a few months after Corniche investment.
UK distributor Revolver Entertainment has seen at least 12 staff leave the firm in recent months.
Recent departures include finance director Mark Bispham, head of TV and digital Lucy Savage, sales executive Elliott Till, head of business affairs Yogita Puri, acquisitions executive Martina Ternstrom and head of theatrical marketing Andrew Woodyatt.
Former Revolver acquisitions executive David Bishop joined Protagonist in October 2012, while PR manager and associate producer Alex Georgiou also left last year.
Screen understands that most roles are unlikely to be replaced, with Eduardo Panizzo now leading Revolver’s acquisitions.
In September, Screen reported that Revolver had sold a “significant minority stake” in the company to Hani Farsi’s Corniche Pictures, the film division of Corniche Capital, which has also invested in Jean Labadie’s Le Pacte.
Screen understands that at least some of the staff exits came as Corniche was keen to streamline operations and reduce overheads at the Holland Park-based company, whose staff number last summer was around 40.
CEO Justin Marciano told Screen last September that Corniche’s involvement would provide a “cash injection and more opportunity for growth.” Marciano was unavailable for comment on the layoffs.
The exodus is further evidence of the rigours of the UK’s competitive distribution landscape, which saw Icon Distribution UK wrap for business in late 2011, and more recently G2 fold into Koch Media and Momentum about to fold into eOne.
Revolver’s 2012 slate included iLL Manors, BAFTA-nominated The Imposter and Liberal Arts (the latter were joint acquisitions with Picturehouse Entertainment). Previous hits include Anuvahood and French thriller Tell No One.
The company, operational since 1997, also comprises production outfit Gunslinger Films.