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Posts Tagged ‘bankruptcy’

Net SE, parent company for Meyer Optik, others files for bankruptcy

14 Aug

Net SE, the company behind Oprema Jena, Meyer Optik Görlitz, Emil Busch, C.P. Goerz, Ihagee and A. Schacht products has been removed from the German stock exchange and has subsequently filed for insolvency.

According to documents on Net SE’s website, the de-listing occurred on July 2nd, 2018. Roughly two weeks later, on July 17th, 2018, the company filed for bankruptcy.

An exact cause for the filings isn’t mentioned, but on multiple Kickstarters (1, 2, 3, 4) for various lenses manufactured by its portfolio companies, a message was shared detailing an unfortunate car accident that nearly claimed the life of Dr. Stefan Immes, the ‘main investor’ and CEO of Net SE.

It appears a large number of backers are yet to receive lenses and accessories they pre-ordered

In the message, which was shared as an update to Kickstarter backers, the Net SE crowdfunding team notes that due to Dr. Immes inability to return to work in the ‘foreseeable future […] a large number of changes’ need to be made regarding the restructuring of the organization. The update says Net SE ‘will need until the end of October to be able to share our conclusions on how to proceed.’

Based on comments and criticism across the multiple Kickstarters Net SE companies have going on, it appears a large number of backers are yet to receive lenses and accessories they pre-ordered. Many are calling for refunds on pledges that weren’t fulfilled.

It’s unknown what the future holds for Net SE and its portfolio of companies. We’ll stay on top of this story and update accordingly. If you have any insight, don’t hesitate to drop us a line in the comments below or through our tip line.

Articles: Digital Photography Review (dpreview.com)

 
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DxO Labs confirms bankruptcy, but promises updates to Nik Collection and DxO PhotoLab

01 May

DxO Labs has released an official update on its financial situation in the form of a blog post on its website, and it’s not as doom-and-gloom as it seems… or sounds. While the statement confirms DxO Labs has chosen “to file for Chapter 11 Bankruptcy Protection and is now in the process of restructuring the business,” it also says the restructuring “will not affect our customers in any way.”

In fact, DxO Labs says the process should take no more than a few weeks to complete. And not only should this news “not affect customers,” DxO Labs took the opportunity to confirm that a couple of new products are on the horizon.

According to the statement, DXO Labs plans to release a free update (version 1.2) to its flagship program DxO PhotoLab sometime in June. The update will add improved local correction features and support for seen new cameras ‘including the Canon EOS 2000D and the Sony A7 III.’

In a quick swipe at Adobe, DxO writes that this impending update will serve as:

…an opportunity for us to reiterate our commitment to the ‘perpetual license’ model (as opposed to a subscription model) that allows our customers to update their products according to their needs, rather than in a constrained manner.

And if that’s not enough good news to distract you from the Chapter 11 talk, DxO Labs also confirmed plans to update the Nik Software Collection.

In June, the Nik Software Collection will receive its first update since being bought from Google in December of 2017. The update is said to focus on fixing bugs and to make sure the plug-ins and standalone programs work smoothly on both PC and MacOS computers.

Official Statement:

Greetings,

On March 7, 2018, DxO Labs chose to file for Chapter 11 Bankruptcy Protection and is now in the process of restructuring the business.

We are very confident that this procedure, which should not last for more than a few more weeks, will not affect our customers in any way. In fact, we are pleased to announce the following upcoming product releases:

  • In June, we will release a free update (version 1.2) of our flagship software, DxO PhotoLab. Recently awarded the TIPA 2018 Award for Best Image Processing Software, this latest version of DxO PhotoLab will include improved local correction features, and will add support for 7 cameras, including the Canon EOS 2000D and the Sony A7 III. This release will also be an opportunity for us to reiterate our commitment to the “perpetual license” model (as opposed to a subscription model) that allows our customers to update their products according to their needs, rather than in a constrained manner.
  • In June, we will release the new version of the Nik Software Collection, which DxO acquired from Google at the end of 2017. Much awaited by the Nik software community, this first “by DxO” version focuses on fixing bugs that up until now could disrupt the user experience, as well as on ensuring full compatibility with the latest Mac OS and PC platforms.

Thank you for your understanding and confidence,

The DxO Team

Articles: Digital Photography Review (dpreview.com)

 
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Makers of the Panono 108MP 360-degree camera filing for bankruptcy

24 May

German media reports that the founders of the company behind the Panono 360-degree ball camera have filed for insolvency proceedings at a court in Berlin, Germany. Unfortunately this means it’s very unlikely that the backers of the original crowdfunding campaign on Indiegogo will ever receive their camera. 

The small number of buyers who purchased a Panono through retail channels after the Indiegogo campaign could be affected as well. At this point it is unknown if the the Panono servers, which power the automatic stitching of the Panono’s 360-degree images, will remain functional for the foreseeable future.  

Initially things had gone well for the German start-up. The Indiegogo campaign generated 1.25 million dollars in 2013. However, it soon became obvious that the team had miscalculated the development time for the camera which back then only existed in prototype form.

The final product was due to ship in 2014 but instead there was only a second prototype in February 2015. A few months later first shipments were announced, but not to the project backers. Instead the cameras went to retail customers who paid a considerably higher prices. It appears at this point the company had already run out of money and was hoping to generate additional funds for mass production and eventual shipping to project backers. 

Now it seems this plan has not worked out either and remaining funds have dried up. We had the chance to test both a prototype and final product of the Panono camera and were quite impressed by the technology. 360-degree cameras are now much more widely available than in 2013 but none of the affordable models offer the Panono’s 108MP resolution and image detail. 

Articles: Digital Photography Review (dpreview.com)

 
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Kodak bankruptcy plan approved, former film giant exits consumer business

22 Aug

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The Kodak planning to exit from bankruptcy on September 3rd looks very different from the familiar imaging company that filed for Chapter 11 last year. The U.S. Bankruptcy court has approved Kodak’s plan for reorganization, a step that means the company can resume independent operation soon. CEO Antonio M. Perez issued a statement emphasizing Kodak’s move into commercial imaging for a profitable future, including “packaging, functional printing and professional services.” Click through to read more about where Kodak now stands.

News: Digital Photography Review (dpreview.com)

 
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