Patchway Studios, Home To ‘Rivals,’ Fights Investor Closure Threat
EXCLUSIVE: Patchway Studios, the UK studio facility that supported Season 2 of Disney’s Rivals and Netflix hit A Good Girl’s Guide To Murder, is attempting to fend off a closure threat levelled by one of its own investors.
The Bristol-based operation is the subject of a winding up petition from angel investor Annabel Schild, who is arguing that she is owed around £100,000 ($135,000).
In the UK, a winding up petition is often the last resort taken by a creditor when attempting to recover debt. It can put a business into liquidation, potentially imperilling its operations.
Schild’s claim against Patchway Studios, trading as Camera Studios (Patchway) Ltd, was before the business division of the High Court earlier this month. Judge Agnello KC adjourned the hearing to a later date.
In a statement to Deadline, Schild’s attorney said she had “little other option” but to pursue the petition because payment has been due for a “significant amount of time.”
Patchway said the issues will be “resolved in due course.” The company’s position is that all other investors have agreed to reschedule their loans, and Schild has been paid her returns in recent years.
In Schild’s telling, she issued a loan to Patchway in 2022 and repayment was due in May 2024, but Patchway recently “confirmed it was not in a position to pay anything, not even interest that was due.”
Her lawyer continued: “Ms Schild did not take these steps lightly and had sought engagement with the company before pursuing legal action. Regrettably, no proposal of any substance towards repayment was made, leaving Ms Schild with no choice but to take formal action.”
The attorney added that Schild looks forward to Patchway “making good on promises” that all creditors will be repaid from “proposed fundraising activities.”
“She would be very pleased if all creditors are returned sums that they are owed so that the company can continue to trade, and hopes that the business does continue to operate in the future in a prudent manner for the benefit of all present and future creditors, stakeholders, interested parties and the wider community,” the statement read.
A Patchway spokesperson said: “As this is an ongoing legal process, we can’t go into any detail, but what I can say with confidence is that the issues raised by Ms Schild will be resolved in due course.”
Schild’s position is that her petition has the support of another creditor owed money. Patchway disputes the allegation that it is being chased for cash by another creditor.
Founded in August 2021, Patchway’s first major production was ITV/MGM+ series The Winter King. The studio facility has also hosted Paramount+ series The Crow Girl and supported Down Cemetery Road for Apple TV+. Patchway also has a facility in Battersea, London.
