Photographic firm faces overhaul

Photographic materials supplier Ilford Imaging was facing a major overhaul today after administrators were appointed to the company.

Grant Thornton said it would look at the potential of selling Ilford’s traditional photographic business as a going concern and allow the company to focus on its more profitable inkjet digital arm in Switzerland.

The group, which is one of the world’s leading suppliers of photographic materials, was founded in 1879 and employs 740 people at Mobberley, Cheshire, where it principally manufactures black-and-white supplies.

The Swiss manufacturing company, based in Marly with 450 staff, develops and makes digital inkjet products. It is continuing to trade normally.

Ilford has successfully reversed a decline in sales by re-focussing the business on digital photography products – increasing revenues in the year to December to $233m (€346m).

Although growth and profitability in its digital inkjet business has accelerated, the decline in the black-and-white photography market – in which Ilford Imaging has a major market share – has continued. This combined with the weakness of the US dollar and major de-stocking by customers has led to losses.

Mark Byers, head of recovery and reorganisation services at Grant Thornton, said he would be talking to major customers and suppliers to maintain their support during the restructuring and disposal process.

He added: “These insolvency appointments have arisen in order to restructure the company’s traditional photography business and allow it to focus on its core profitable inkjet digital business based in Switzerland, which is unaffected by these insolvencies.

“Currently we are analysing the traditional photographic business with a view to assessing its potential for sale as a going concern.”