A few weeks ago the Johnny Depp-led police corruption thriller “City of Lies” was suddenly pulled from the release schedule by distributor Global Road Entertainment just a month or so out from its debut in cinemas on September 7th.
At the time it was thought to be due to the negative backlash surrounding Depp in recent months, but The Wrap now reports it has much more to do with Global Road’s current corporate woes. The company is headed towards bankruptcy and so its film division has reportedly been seized by its bank lenders who are now shopping off its product to potential buyers in order to stave off filing Chapter 11.
The company, which previously released “Hotel Artemis” and last week’s “A.X.L.,” has several films in post-production including a new take on “The Secret Garden” starring Colin Firth, the Kiernan Shipka-led horror film “The Silence,” the Depp-led “Richard Says Goodbye,” and the upcoming Anne Hathaway and Matthew McConaughey-led “Serenity” which is still slated for an October 19th release through Aviron Pictures.
Lenders are hoping to set meetings and set up screenings with several top indie distributors to unload much of the existing slate of film projects.