Even before color movies were a thing, there was Technicolor – but the company, founded in 1915, appears to be shutting down forever.

Technicolor, the company that added breathtaking color to films like The Wizard of Oz, Gone with the Wind and early Disney animated shorts and features, is reportedly cutting hundreds of jobs and looking to close offices all over the world as soon as Monday,

Hollywood trades Deadline and Variety obtained a memo sent to employees warning staff in New York, Los Angeles, and Chicago that operations and offices of subsidiaries The Mill, MPC Advertising, and Mikros Animation could close as soon as today.

The memo reads, “despite exhaustive efforts—including restructuring initiatives, discussions with potential investors, and exploring acquisition opportunities—we have been unable to secure a viable path forward,” the notice, sent to employees on Friday, reads, in part. “Unfortunately, this leaves us with no alternative but acknowledging that the Company may be forced to foreclose.”

UK staff were told on Sunday that Technicolor was filing for administration (bankruptcy), citing “post-Covid recovery, a costly and complex separation from the previous group followed by the writers’ strike leading to a slowdown in customer orders causing severe cash flow pressures.”

And in France, the company has similarly begun receivership proceedings for its subsidiaries Mikros Image, The Mill France, Technicolor Group, Technicolor Animation Production, and Technicolor Trademark Management companies.

While Technicolor’s heyday began in the early days of motion pictures, they have been busy, working on recent projects like Mufasa: The Lion King, Emilia Pérez, and the upcoming live-action Snow White and Mission: Impossible — The Final Reckoning, as well as countless commercials and other projects.

Technicolor and its subsidiaries have offices all over the world and employ thousands of artists. The company experienced several restructurings and management changes in recent years and following its filing for chapter 15 bankruptcy protection in 2020. Technicolor Post was sold to Streamland Media for $36.5 million in 2021 and MPC was relaunched in 2022.