K.O.

From Cinefex:

“We’ve just received the sad news that Kerner Optical has closed for business. Kerner had its origin in the fabled model shop of Industrial Light & Magic, spinning off — after 30 years of stellar work — into a separate modelmaking entity when Lucas opted to shutter the ILM model shop in 2006. After struggling for some time, Kerner finally succumbed to the harsh economy and the industry’s waning interest in miniature work. End of an era.”

Indeed. The astounding work produced at the ILM Model Shop and it's last incarnation as Kerner Optical has paved the way to modern film-making and influenced generations of moviegoers and industry professionals.

Would ILM suffer the same tragic fate?...

Here is the farewell letter posted in their website.