You will be redirected back to your article in seconds

Tartan closed for business

McAlpine breaks news to London staff

U.K. distrib Tartan Films has finally shuttered.

Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety.

Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in takeover talks with David Bergstein of the Capco Group, the firm that owns ThinkFilm, a stake in I.M. Global and the U.K.’s Capitol Film. But Capco itself was plagued by rumors of financial troubles for much of last year before negotiations broke down following disagreements over Tartan’s value.

In October Tartan announced that it had received a cash injection of £3 million ($5.98 million) in the form of a convertible loan from a private investor and also had restructured its British operation, with managing director Laura De Casto ankling.

The company’s PR and marketing departments, previously run out of separate London offices, also were merged into one entity based at Tartan’s head office.

Stateside arm Tartan USA announced at Cannes in May that it was being foreclosed. Film print and advertising financing company Palisades Media Corp. has since bought the U.S. rights to its library, which includes “Old Boy” and “Lady Vengeance.”

Those moves now appear to have offered only temporary respite from a downward turn of fortune for McAlpine, who founded Tartan in 1982.

The company subsequently expanded by launching sublabels such as Tartan Terror and Tartan Asia Extreme. Distrib arguably became the home for genre fare and edgy foreign-language pics, especially from Asia.

Tartan execs have yet to comment on what the future holds for the company, although it seems likely that liquidators and accountants will be brought in to assess its assets and sell them off.

More Film

  • Wanderland

    Wanderland

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

  • Virginia Madsen Valeria Cotto

    Film News Roundup: Virginia Madsen, Valeria Cotto to Star in Supernatural Thriller 'Sarah'

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

  • BondIt Media Capital

    BondIt Media Capital Closes $20 Million Credit Facility (EXCLUSIVE)

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

  • Brookings Institution presents "The Life She

    Brookings Institution Doc Puts a Human Face on the Medical Marijuana Movement

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

  • Playback Podcast: Aaron Katz on 'Gemini'

    Playback: Aaron Katz on 'Gemini' and the Erosion of Mid-Budget Studio Filmmaking

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

  • The Equalizer 2 trailer

    Denzel Washington Is Back in Action in 'Equalizer 2' Trailer

    U.K. distrib Tartan Films has finally shuttered. Tartan employees found the London office doors shut Thursday and were informed later in the day by topper Hamish McAlpine that the company was closed for business, sources told Daily Variety. Speculation over Tartan’s future has been lively for several months. The distrib was believed to be in […]

More From Our Brands

Access exclusive content