Manufacturers of photographic materials ILFORD Imaging – known world-wide for their high quality printing papers – have announced that the company are experiencing repeated financial difficulties. Employees have been informed, and a written statement has been sent to Fribourg Court declaring the company's insolvency.
Following ILFORD's liquidity issues last summer, business could only be resumed with difficulty, as large numbers of existing customers switched to other suppliers, resulting in a dramatic loss of sales. ILFORD are operating in a difficult market, where decreasing demand and the resulting excess capacity lead to price wars between manufacturers.
The company's management are working closely with the appropriate authorities in order to minimise the situation's negative impact on all affected parties. No further information can be given until the Court has issued a response.