Leading French production company Rectangle Productions, whose credits include Audrey Diwan’s Golden Lion-winning The Happening and upcoming San Sebastian opener Emmanuelle, has started legal proceedings to enter into a potential partnership with finance and sales company Goodfellas, in the latest evidence of consolidation in the European production sector.
Rectangle said the aim of the legal initiative is “to preserve the integrity of the Rectangle brand and its production savoir-faire, while resolving its current financial difficulties, notably linked to the Covid impact”.
Company founder Edouard Weil told Screen the measures are “technical” as the company continues “advanced discussions” with Goodfellas. Rectangle confirmed the restructuring would not affect any ongoing projects in development or production.
The company has filed for judicial reorganisation (redressment judiciaire) from a Paris commercial court as part of a strategic internal restructuring process. Under French law, the judicial reorganisation process helps to ensure the continuity of the company and enable full or partial transfer of the business.
Rectangle said it is “actively exploring a number of options” including “a possible partnership” with Goodfellas which Rectangle describes as “a company with which Rectangle Productions has ongoing co-productions, and whose directors are long-standing partners of Rectangle Productions”.
Details of the exact nature of the partnership are in negotiations.
Rectangle was co-founded in 2003 by Weil, who was joined by co-producer Alice Girard in 2012. The company has produced some 60 features including Diwan’s The Happening and Emmanuelle, Valerie Donzelli’s Cannes 2023 film Just the Two of Us and Charlene Favier’s Oxana, for which Goodfellas handled sales on each.
Emmanuelle will world premiere in competition as the opening night film at San Sebastian which kicks off on September 20 before being released in France by Pathé on Sept. 25.
Goodfellas could not be reached for comment.
Originally published at https://www.screendaily.com/news/emmanuelle-producer-rectangle-in-talks-to-form-formal-partnership-with-goodfellas/5195075.article
