Scary? You betcha.

A couple moments ago this message trickled into my inbox.

Tips began flooding the Defamer mailbox just minutes ago that Axium International, a leading entertainment industry payroll agency that works with Warner Bros. among other studios, shut their doors overnight and have apparently declared bankruptcy.

Check out Defamer for more information.

From: LAProducer@yahoogroups.com [mailto:LAProducer@yahoogroups.com] On Behalf Of [REDACTED] Sent: Tuesday, January 08, 2008 1:36 PM To: LAProducer@yahoogroups.com Subject: [LAProducer] For those of you not on CoPros

Axium/Avalon closed this morning. Here are two emails that were on copros and since no one here is talking about it I thought maybe some of you might not know.

Hi, all.

I just spoke with Andre at Axium and it is true. They were told yesterday to remove their personal belongings and not do any more work. All the Axium offices worldwide (LA, NY, CHI, London, Mexico City, Canada) are shut down permanently, and the accounts have been frozen. It does not appear that the Axium employees are going to be
paid for their last week of work or any sort of severance, as it is indeed a bankruptcy.

If anyone knows more, I'd love to hear about it. This, in addition the Golden Globes cancellation, and the WGA strike, looks like it's going to be a tough beginning to this year.