After failing to secure 11th hour deals for new investors, Technicolor has started to shut down operations in the U.S. and globally.

Technicolor Group, the French VFX giant that owns some of Hollywood’s most in-demand post-production houses, appears to be on the brink of collapse — putting thousands of jobs at risk. Variety reports that Technicolor has begun winding down operations after failing to secure a new round of investment necessary to keep the entire international outfit running.