When the world’s largest movie studio closes, ‘Diary of a Wimpy Kid’ is left to fend for itself

LONDON — The world’s biggest movie studio will shutter on Tuesday amid declining box office revenues and a mounting public backlash over its handling of the film that spawned a billion-dollar franchise.

Disney, the parent company of Disney Animation Studios, said Tuesday it was closing its London headquarters for the first time since its founding in 1928.

Disney is also closing three of its studios in Ireland and the United Kingdom, including its Hollywood studios in New York, Shanghai and Shanghai Studios.

The closures affect more than 3,000 people worldwide, including 1,000 employees in New Zealand.

The studio is also taking the extraordinary step of shutting down its global operation, with its offices in Los Angeles, Chicago, Madrid and Berlin, where it has operated since 2007.

Its closure comes as the studio is under pressure to deliver its biggest-ever profit, and as the U.S. movie market has been hit hard by an unprecedented recession.

A record $4.5 billion was earned in the U, Japan and China last year.

The loss comes as Disney has suffered a series of financial troubles, including a $3.6 billion loss in 2012.

The film was a smash hit at the box office, grossing $4 billion in its first three weeks in release.

It made more than $100 billion worldwide.

The company said it was considering shutting down the studios for the foreseeable future.

Its chief financial officer, Charles G. Burdick, said in a letter to shareholders that the decision was part of a plan to reduce the company’s workforce and focus on the “most effective business strategies.”

The studio has struggled to adapt to the economic downturn and the rise of streaming services, which has created a glut of new moviegoing options.

In March, Disney filed for Chapter 11 bankruptcy protection and closed eight of its 11 studio divisions.

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