Tetenal Insolvency

Tetenal insolvency forces it to reorganize photo business.

0
420

We all have heard of Tetenal products. But what we didn’t expect is that they would need to declare insolvency to reorganize and keep going in 2018.

The first of October managing director Daniel Middendorf has submitted an application for a reorganization under insolvency protection for the company at the district court of Norderstedt. “For years, Tetenal has been under pressure to adapt through radical changes in our markets. This pressure from outside now leads us to have to review and adapt all our structures. The reorganization path that has now been taken will put the company on a new footing and lead us to sustainable profitability, “explains Managing Director Middendorf. 

Main point in the German press article are:

– A supplier of color papers had a 5-month delay and decreasing revenue from the fotoprint-business over the last years resulted in financial turmoil.
– They filed for bankruptcy and restructuring of the business
– CEO announces radical restructuring due to the situation to better adapt to changing markets
– Court agreed with the plan, CEO remains in charge
– Production and sales wont be affected
– Subsidiaries in France, Poland and UK are not affected
– No layoffs

The key point is they are going to continue and service should not be affected in any step of the chain. But we all need to understand Tetenal produces photography chemicals and products for their own brand and some of the biggest players in film photography. So if they go many of our favorite products could go too.

Lets all hope it’s just a small bump on the road now that we are just getting Kodak’s Ektachrome in the mail.

Read the German article

If you rather watch a video about what has happened check below.

LEAVE A REPLY

Please enter your comment!
Please enter your name here