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  1. #111
    Ian Grant's Avatar
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    Quote Originally Posted by zsas View Post
    Good gosh! Really hard to read this
    What's hard. They've had to do this to restructure, I guess that way they can ditch the previous investor - it appears they have the assets to meet the liabilities. So no suppliers get burnt.

    Ian

  2. #112

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    Quote Originally Posted by Ian Grant View Post
    What's hard. They've had to do this to restructure, I guess that way they can ditch the previous investor - it appears they have the assets to meet the liabilities. So no suppliers get burnt.

    Ian
    The court papers suggest otherwise re the assets, and judging form the list of creditors, they have not paid the bills in a LONG time.
    In any case, they are not in restructuring (like chapter 11) but in chapter 7 (liquidation) and does not look like they will be opening back anytime soon at or all...
    CatLABS of JP
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  3. #113
    Photo Engineer's Avatar
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    Well, IIRC from the documents, this is Chapter 7 which is liquidation and not Chapter 11 which is restructuring.

    If so, it is goodbye!

    PE

  4. #114

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    Yes, it did say Chapter 7, which is liquidation. But what's interesting is that the company being liquidated is "calumet.com llc". It's at least possible that the stores are structured as a wholly owned subsidiary. But it would be unusual to take the step of actually closing the stores if there was any intent to sell them (within bankruptcy) as an ongoing entity.

    Of course, if everything is liquidated, "everything" would include the Calumet brand (if someone wanted to buy it).
    "Far more critical than what we know or do not know is what we do not want to know." - Eric Hoffer

  5. #115
    Ken Nadvornick's Avatar
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    My Calumet C1 8x10 needed a tissue. He's having a hard time...



    Ken
    "There is very limited audience for the arty stuff, and it is largely comprised of other arty types, most of whom have no money to spend because no one is buying their stuff either. More people bring their emotions to an image than bring their intellect. The former are the folks who have checkbooks because they are engineers, accountants, and bankers—and generally they are engineers, accountants and bankers because they are not artists."

    — Amanda Tomlin, Looking Glass Magazine, 2014

  6. #116
    zsas's Avatar
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    Quote Originally Posted by Ian Grant View Post
    What's hard.
    tis a local company to me(Chicagoan), just real sad 2nd, chapter 7 is much different than chapter 11, as mentioned above. Just real sad. For eg, friend'o mine has been renting a bunch of equip to aid his artistic vision there lately. Just so sad thinking of all that going south

  7. #117
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    Quote Originally Posted by Sirius Glass View Post
    I never saw you at Penn Camera.
    Ha! Yes, not too many robots with a severe thirst for beer hanging around Tysons! Well, maybe over at Crate and Barrel...

  8. #118
    c6h6o3's Avatar
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    I stopped going into any local camera stores more often than once every couple of years when I could no longer get most chemicals or any sheet film in most of them. And I've never been able to get 8x10 film in any brick and mortar store in the DC area for at least 15 years. So the only effect on me is that now I'll have to get my 120 film through B&H just as I've been doing with sheet film for the past 15 - 20 years. Not much of a hardship.

    I kinda figured they wouldn't last long when they took over Penn Camera and stocked less film, the few chemicals they had been stocking disappeared, and they stopped selling photographic paper.

    What did they expect? People go to brick and mortar camera stores to see what equipment they're going to order from Amazon or B&H. Nobody buys anything from them anymore. Did they really expect to successfully compete with online retailers?

    BTW, you can still get these, too, just like buggy whips. As long as someone manufactures film, I'll be able to buy it. From someone. If they stop manufacturing I'll pour plates if I'm still alive.
    Last edited by c6h6o3; 03-15-2014 at 11:37 PM. Click to view previous post history.
    Jim

  9. #119

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    CatLABS of JP
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  10. #120

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    Given how they treated employees, if I had rental equipment, I'd have them come and get it.
    "Far more critical than what we know or do not know is what we do not want to know." - Eric Hoffer



 

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