[news] Metz-Werke GmbH & Co KG files for insolvency

[kandinsky]

Only noticed this news when member obfuscate posted about it here.

Nov 19 (Reuters) - German television maker Metz has filed for insolvency, a spokesman for the company said on Wednesday, adding that about 600 jobs would be affected.

Joachim Exner, who co-managed the insolvency of German peer Loewe, has been appointed as insolvency administrator, the spokesman said, adding that the company's production and customer services would continue for the time being.

Peer Loewe sought protection from creditors in July 2013 and filed for insolvency in October after a strategy to combat the economic downturn by focusing on premium customers failed. (Reporting by Alexander Huebner; Writing by Christoph Steitz, editing by David Evans)

http://www.reuters.com/article/2014/11/19/metz-bankruptcy-idUSL6N0T94Q320141119

Germany's Metz-Werke GmbH & Co KG has today filed for insolvency, a brief article from Reuters confirms. Referred to by Reuters' Frankfurt desk as being a television maker, Metz is better known to photographers for its third-party Metz Mecablitz flash strobes, as well as a variety of lighting-related accessories. It's apparently the company's television business that has been struggling, however, with strong competition and low pricing making the situation unsustainable.

Little information is currently available as to just what this means for the company and its products. Around 550 full-time and 100 part-time jobs are expected to be affected, including a number in the company's lighting division, according to a German-language report from Handelsblatt. According to the company's appointed insolvency administrator, Joachim Exner, production and support of Metz products will continue at least in the short term.

We will of course follow this story, and currently have an email in to our press contacts at Metz for further information. Watch our news page for further reports...

http://www.imaging-resource.com/new...nistrator-says-that-production-and-support-wi

"...for the time being" could mean anything... from "till the end of the year" to who knows when... :think:

 

[Octarine]

No, that will take more time, also due to regulations and the unions being involved in insolvency cases.
Another comment that can be read in German news is: the tv section of Metz is making the losses. Obviously, the section producing flash devices and accessories seems to work well and make its profits.
The insolvency administrator, Joachim Exner, has successfully turned around the other German tv set producer Loewe. After new investors were introduced the company now is profitable. So let's hope Joachim can repeat he good job.