True Brit Entertainment, Zygi Kamasa’s U.K. film distributor, has entered administration, a British legal process akin to Chapter 11 bankruptcy, following a run of acclaimed releases that failed to spark interest at the local box office.
Zygi Kamasa, who previously led Lionsgate U.K. & Europe and Marv Studios Group, started the company just under three years ago. Its entire operation is devoted to British films headed for cinemas. The business has set out to put its money into and release 4-8 titles each year while jointly funding more than $50 million of production annually.
Early Releases and Their Fate
True Brit’s first release was “The Critic,” starring Ian McKellen and Gemma Arterton, which it acquired out of Toronto in 2023 and put in U.K. cinemas the following year. That was followed by the Danny Dyer comedy “Marching Powder,” which grossed more than $4 million in the U.K. and Ireland.
True Brit’s later productions did not fare well. The studio co-produced Gurinder Chadha’s musical comedy-drama “Christmas Karma” and a boxing drama “Giant,” yet neither managed to draw crowds. Then came “The Death of Robin Hood,” starring Hugh Jackman, which earned under $800,000.
The Latest Failure
The latest True Brit release, the Bella Ramsey-starring coming-of-age comedy-drama “Sunny Dancer,” failed to land despite an impressive promotional campaign and buzz from its world premiere in Berlin. That underlines the ongoing struggles in the U.K. for independent film.
Kamasa acknowledged the failure in a statement sent to Variety. “In extremely challenging market conditions, the company has taken the difficult decision to enter administration,” he said. “An independent specialist has now been appointed to oversee the company and assess the options available, with the aim of achieving the best possible outcome for the company and its creditors.”
What Happens Next
Two films remain on True Brit’s slate. Anthony Wonke’s boxing biopic “In the Shadows” is set for a world premiere later this month at the BFI London Film Festival. The Maika Monroe-led psychological horror comedy “Victorian Psycho” already premiered in Cannes.
It is unknown what will now happen to those releases.
The Funding Behind the Venture
True Brit was announced in November 2023 with funding led by talent management and entertainment company Three Six Zero, which reps names including Calvin Harris, Frank Ocean, and FKA Twigs. There was also a minority investment from Matthew Vaughn’s Marv.
KEY FACTS
– Founded: November 2023
– Filed for administration: Now
– “Marching Powder”: Grossed more than $4 million in the U.K. and Ireland
– “The Death of Robin Hood”: Earned under $800,000
– Upcoming titles: “In the Shadows” at BFI London Film Festival, “Victorian Psycho”
– Announcement: Deadline first reported the news
True Brit went into administration, and Deadline was the first to break that story. Variety followed with Kamasa’s statement.
Source material: “Zygi Kamasa’s U.K. Film Distributor True Brit Entertainment Files for Administration Due to ‘Extremely Challenging Market Conditions’,” Variety.
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