UNITED KINGDOM - JUNE 01: NEC BIRMINGHAM Photo of David BOWIE, performing live onstage on the Serious Moonlight tour (Photo b
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Labyrinth, the 1986 cult classic fantasy film starring the immortal David Bowie, will receive a modern facelift. TriStar and the Jim Henson Co. are producing a new version of the movie, hiring Guardians of the Galaxy co-writer Nicole Perlman for script duties, according to The Hollywood Reporter.

The original film followed a 15-year-old (Jennifer Connelly in an early role) navigating a trippy maze in a quest to save her younger brother, who is kidnapped by Goblin King Jareth (the inimitable Bowie).

With that kind of incredible set-up, how could you lose? But the film flopped, earning mixed reviews and barely half of its $25 million budget – despite the high profile of its impressive team: co-stars Bowie and Connelly, director Jim Henson (The Muppets), executive producer George Lucas, and screenwriter Terry Jones (a member of Monty Python). Still, Labyrinth has built a devoted cult following over the years.

Lisa Henson of The Henson Co. will produce the new film. It's unclear as of this writing whether the project will be a sequel or a new take on the original. Without a reprisal from the late Bowie, the filmmakers are facing an uphill creative battle, but let's hope it retains that quirky magic.