bankruptcy

GNARBOX May Be Dead, So Buyer Beware

GNARBOX appears to be dead. The company behind the popular rugged backup device has seemingly gone dark, leaving customers without support and turning the product into an expensive portable drive with no extra functionality.

Meyer Optik Görlitz is Back from the Dead with a New Owner

After years of running hugely successful Kickstarter campaigns but widely failing to deliver on its promises, net SE (the company behind the revivals of Meyer Optik Görlitz and other vintage brands) filed for bankruptcy this year. Now a German company called OPC Optics has announced that it has acquired the rights to the Meyer Optik Görlitz brand and will be bringing it back to the market.

Photoflex Returns From the Grave, Says It’s Back in Business

Well-known lighting gear manufacturer Photoflex may live on after all. No, its original April 1st announcement that it was closing shop wasn't an ill-conceived April Fool's Joke or a bizarre marketing stunt -- the struggling company is reportedly working on a deal that will allow the brand to live on.

Photo Scanning Businessman Being Sued for $90M After Making $120K Per Week

John Rogers was once one of the high flying entrepreneurs in the photo world. After coming up with the brilliant idea of scanning old photos for newspapers and splitting the rights to the digital images, Rogers was on his way to amassing one of the largest photo libraries in the world and was earning a whopping $120,000 per week selling his images on eBay.

Now his empire has come crashing down. Rogers is reportedly being sued for more than $90 million and has lost his business entirely.

Exclusive: Calumet Employee Reveals what Was Happening Behind the Scenes

Shortly after news broke this morning that camera store chain Calumet had declared Chapter 7 bankruptcy and would be closing all of its US stores (or will it?), a Calumet Rental Manager -- well, former Rental Manager now -- got in touch with us to see if we wanted to get some of the behind the scenes details of how the bankruptcy came to be.

We, of course, said yes. The employee has asked to remain anonymous, and so his/her answers are labeled simply as "Calumet Employee" below.

Calumet Photo in the US Officially Declares Bankruptcy, Gave Employees Zero Notice

Update: Calumet has posted an update to its Facebook page to say they might reopen a few locations. Full statement at the bottom of this post.

In a story that is still very much developing as more information comes to light, well-known camera store chain Calumet Photographic has filed for Chapter 7 Bankruptcy without so much as a whispered warning to their employees.

Why Kodak Isn’t Out of the Woods Yet

Kodak clawed its way out of bankruptcy this past Tuesday, but the Rochester-based company has a long climb yet.

There's been plenty of talk on this topic over the past week, but most of it seem to be focused on what Kodak gave up to emerge from the shadow of Chapter 11. NBC News, for example, emphasizes the loss of consumer-oriented operations and a 50% reduction in yearly expected revenue when they discuss the "New Kodak Moment."

Anyone with an appreciation for Kodak’s heritage is sure to feel a twinge of sadness over these developments, but it is still far too early to be asking if the sacrifice was worth it. The more important question is "will it work?"

Kodak Officially Emerges from Chapter 11 Bankruptcy

It's been a long and depressing tunnel, but Kodak has finally reached the light at the end. Over a year and a half after declaring Chapter 11 Bankruptcy, the once-great camera giant officially reached the end of its financial troubles yesterday.