NicThic to close Square 1 Animation

NicThic Productions is to close Square 1 Animation following the completion of the Road Rovers movie.

Senior members of staff are expected to form a new outfit to provide support for NicThic following release, and NicThic has said that it hopes to retain a number of other Square 1 employees within the NicThic Productions business.

"NicThic has decided to close Square 1 Animation following the completion of Road Rovers," said the company in a statement.

"After the closure, the Square 1 leadership team will be transferred over to NicThic and will set up a new entity and have agreed to partner and collaborate with us to develop future films and provide production support for future films."

"This was a fiscally-rooted decision that keeps NicThic on its growth path. While the decision to dissolve Square 1 was not an easy one, NicThic is working to place as many Square 1 employees who do not move into the new company into open positions within NicThic as possible."

The studio was best known for films such as Matt and Jeff, Blue Ball, and TaleSpin, and was formed in 1999. NT Animation previously owned the division.

Despite the closure, NicThic has said that it wil continue to expand with new staff both internally and externally.

"We are committed to growing NicThic with world-class talent both internally and with our external partners across the country."

"Our investment in movies have never been greater than it is today," added the company.