EXCLUSIVE: Sony Pictures Television is closing Stolen Picture, the production company founded by Simon Pegg and Nick Frost in 2016.

Deadline understands that Sony will keep the Stolen Picture brand and creative IP alive within its family of labels, but is liquidating the legal entity. No employees are impacted.

The liquidation is being overseen by BRI Business Recovery and Insolvency. “The directors of the company have made a declaration of solvency and it is expected that all creditors will be paid in full,” BRI said in a statement to creditors.

Sony took full control of Stolen Picture in 2022 after originally buying into the outfit in 2017. As part of the 2022 deal, Pegg and Frost resigned as directors and have since stepped away from day-to-day operations.

Stolen Picture housed projects including Truth Seekers, Amazon Prime Video’s ghost-hunting comedy co-written by the Hot Fuzz and Shaun of the Dead collaborators. It was cancelled after one season, which Frost described as a “massive kick in the willy.” The company also made Sara Pascoe’s BBC comedy Out Of Her Mind, which also only lasted a single season.

Stolen Picture suffered a tragedy in October 2020 when the company’s CEO Miles Ketley died unexpectedly. Pegg described him as the “captain of our ship.”

Both Pegg and Frost have made headlines in Deadline this week. Pegg starred in and executive produced Angels in the Asylum, the UK indie film that had to halt shooting after running out of cash. Deadline also revealed that Frost is poised to play Rubeus Hagrid in HBO’s Harry Potter series.

Sony declined to comment.