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Author
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Topic: Ilford is bankrupt (for a second time)
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Leo Enticknap
Film God
Posts: 7474
From: Loma Linda, CA
Registered: Jul 2000
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posted 12-11-2013 07:31 PM
quote: Swiss broadcaster's website
La faillite de la société fribourgeoise Ilford Imaging a été prononcée
Le président du Tribunal civil de la Sarine a prononcé lundi la faillite de l'entreprise fribourgeoise Ilford Imaging, qui ne parvenait plus à assumer ses engagements.
C'est une page qui se tourne pour la société fribourgeoise Ilford Imaging. Le président du Tribunal civil de la Sarine, François-Xavier Audergon, a décidé lundi de prononcer la faillite de l'entreprise. Cent trente employés sont touchés par cette mesure.
La justice avait assigné une audience de faillite en raison d'une "situation sociale urgente". L'entreprise spécialisée dans les technologies de l'image avait informé fin novembre le juge, ainsi que ses employés, de la dégradation de sa situation financière.
L'entreprise basée à Marly (FR) ne disposait plus de suffisamment de liquidités pour assumer totalement ses engagements.
En quête d'un nouvel investisseur depuis cet été, Ilford Imaging a présenté le dossier à plus de 20 parties intéressées dans le monde entier, mais n'a trouvé aucun repreneur.
Rough English version, based on a combination of my schoolboy French and Google translate:
The President of the Civil Court of the Sarine, François-Xavier Audergon, ruled on Monday that the Fribourg Ilford Company was bankrupt, because it was not able to fulfil its obligations. 130 employees are touched by the measure [i.e. laid off].
The judge had decided that there had to be a bankruptcy hearing because of "an urgent social situation". The company had told the judge and its staff in late November that its financial situation was deteriorating.
The company, based in Marly (FR), no longer had enough cash to meet its commitments in full. It has been seeking new investors since the summer, and had presented its case to more than 20 interested parties around the world, but failed to find a buyer.
I don't think "New Ilford" were making any moving image-related products, but still, that's another big name in the photochemical world which now appears to be gone for good. They were still making b/w chemistry, which suggests that EK and OrWo now have that market more or less to themselves.
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Sean Weitzel
Jedi Master Film Handler
Posts: 619
From: Vacaville, CA (1790 miles west of Rockwall)
Registered: Dec 1999
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posted 12-11-2013 10:55 PM
Ilford IMAGING is what is bankrupt (again). That company makes inkjet printer paper and inks. This has nothing to do with Ilford Photo which just happened to announce new b/w fiber based paper last week:
http://www.photographyblog.com/news/ilford_photo_announces_new_photographic_papers/
UK-based Ilford Photo has announced a new range of variable-contrast Baryta Fibre Base papers, a completely new and improved Multigrade FB and a new Cooltone FB paper to complement the existing Multigrade FB Warmtone offering. The new paper is available in Glossy and Matt surfaces and offers sharper images, improved maximum density and shorter exposure times. The new Multigrade FB Classic has also been developed to better respond to traditional toning techniques.
Do note that Ilford Photo is not the same company as Ilford Imaging.
Ilford Press Release
BORN, ESTABLISHED, DEVELOPED! … A NEW ILFORD MULTIGRADE FIBRE BASE FAMILY
ILFORD PHOTO announce a new range of variable contrast Baryta Fibre Base papers, a completely new and improved MULTIGRADE FB and a new COOLTONE FB paper to complement the existing MULTIGRADE FB WARMTONE.
For 20 years the best selling ILFORD MULTIGRADE IV FB paper has been the product of choice for creative photographers and printers the world over. BORN following extensive R&D, significant improvements have been made to the product that is now renamed ILFORD MULTIGRADE FB CLASSIC. The new paper is available in Glossy and Matt surfaces and offers sharper images, improved maximum density and shorter exposure times. The new MULTIGRADE FB CLASSIC has also been developed to better respond to traditional toning techniques than the product it replaces.
In a further development, the ILFORD MULTIGRADE FB range is further enhanced by the addition of new ILFORD MULTIGRADE FB COOLTONE. This new fibre base product gives a cool image colour with crisp whites and well separated mid tones.
These new products join the long established ILFORD MULTIGRADE FB WARMTONE paper that has led the field for many years, being long regarded as the creative printers first choice. This fibre base paper produces warm blacks and creamy white tones for luxurious prints. This product has not changed, and there are no plans now or in the future to change the MULTIGRADE FB WARMTONE formulation.
The new range of MULTIGRADE FB papers have been designed and developed to deliver to the photographer and printer for the first time ever the complete range of print tones in one product family.
Alan Ross in testing the new MULTIGRADE FB CLASSIC and COOLTONE papers said, “Both papers have a similar contrast range to the MGIV FB and exhibit a greater clarity or crispness of image.
Both papers will take a richer tone in selenium than MGIV FB - a real boon. The toning test was impressive - at 1:23 even a print immersed for 1 minute showed a noticeable change in image color, but my favorite is in the 4' range. A color I could never get with MGIV FB.
http://www.photographyblog.com/news/ilford_imaging_switzerland_goes_into_insolvency/
Ilford Imaging Switzerland GmbH announced that the company is again facing liquidity issues and is no longer able to honour its full financial obligations. The Managemant Team is working closely with the Swiss state and the appropriate authorities in order to minimise the negative impact on all parties involved. Do note that Ilford Imaging, which develops and manufactures consumables for inkjet printing and other coated products, is not to be confused with Ilford Photo, a UK-based company that produces black-and-white photographic film, papers and chemicals.
Ilford Imaging Switzerland Press Release
ILFORD IMAGING SWITZERLAND GMBH IS FACING LIQUIDITY ISSUES
29th November 2013, Marly Switzerland. Today ILFORD Imaging Switzerland GmbH announced that the company is again facing liquidity issues and is no longer able to honour its full financial obligations. The Managing Directors have already informed the employees and have sent a letter to the court of Fribourg declaring insolvency.
In June 2013, ILFORD Imaging experienced a liquidity issue after the former shareholder Paradigm Global Partners, a UK based financial investor suddenly withdrew from the business. Since then the management took over the company to secure the business short-term and also to find a new long-term investor.
The new shareholders, Paul Willems and Jean Marc Métrailler, initiated the sale of land owned by the real estate company ILFORD Property and invested these funds in ILFORD Imaging in order to provide sufficient liquidity to bridge the time until a new investor could be found. The ILFORD investment opportunity was presented to more than 20 interested parties from all over the world. Unfortunately, a new investor for ILFORD Imaging has not yet been found and the last potential investor pulled out earlier this week.
After the liquidity issues during the summer, it was challenging to re-start the business, as many existing customers began to buy products from competitors, which resulted in a large negative impact on the company’s revenue. In addition, ILFORD had to operate in a particular difficult market where demand is decreasing and manufacturers compete on low prices due to excess capacity. Furthermore, most suppliers would only deliver raw materials against payment in advance. These circumstances, along with the fact that the company had to replenish its inventories, and after payment of the late salaries of June and July, required additional cash.
The restructuring measures that were taken in August 2013 were necessary to improve the competitiveness of the company medium- to long-term. However these measures have not been fully effective yet and the impact will only be realised in the first quarter 2014.
The management is working closely with the State and the appropriate authorities in order to minimise the negative impact on all parties involved. No further information can be provided until the decision of the court is made and the next steps are understood.
About ILFORD
ILFORD Imaging Switzerland GmbH is a sophisticated multi-layer coating company that is known worldwide for its premium quality inkjet photo paper. The company is a world leader in nanotechnology and multi-layer curtain coating. In addition to inkjet photo paper and traditional colour films for the professional market, the coating technology can be used in a broad range of applications including optical films for TV or LED lamps, and sensors for medical equipment. The company also develops and manufactures ink and dyes for the printing industry.
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