Major investor pulls out of Sunderland’s Crown Works Studios

Cain International, a leading investor at Sunderland’s expected CrownWorks Studio, has withdrawn.

The £450 million UK studio was founded on a joint investment between Cain and Fulwell Entertainment, and Fulwell Entertainment is still committed to the studio. The build is designed as a hub for the television and film industry, allowing major projects to be filmed in the northeast of England, with 8,000 jobs expected to be created in the region.

The reason why Cain International was brought out is currently unknown. screenRequest a comment.

A spokesman for Fulwell Entertainment said: “Fullwell Entertainment is committed to working with the Council to find the right private funding and to complement the wide range of government funding needed to make these world-class production studios a reality.”

It is understood that even with Cain’s investment, Sunderland City Council was always planning to explore further private investment in the project.

The government has already provided £25 million for the project. According to the BBC, the council and Northeast Mayoral authorities have pledged to invest around £120 million, with the labor-led Sunderland City Council saying the proposal is “presented to the investment market with the aim of introducing final funders and developers later this year.”