Ilford Management Buyout

[Les McLean]

It's just been announced that the Management Buyout has been successful and that Ilford will hold a press conference on Monday 28th Feb at Focus, the annual UK Photo Show. The new name of the company will be Ilford Photo.

 

[KenM]

Good news Les! At least the company is going to stay with the people that know the business.

 

[MikeK]

It's just been announced that the Management Buyout has been successful and that Ilford will hold a press conference on Monday 28th Feb at Focus, the annual UK Photo Show. The new name of the company will be Ilford Photo.

Hallelujah.........

Mike

 

[Ed Sukach]

Yay!!

 

[noblebeast]

Phew! I can exhale now...

 

[johnnywalker]

Excellent news. I suppose we'll have to wait to find out exactly what the new company is going to produce and what is going to be left by the wayside. Will the new company include all the parts of the old? Paper, chemicals, digital stuff?

 

[FrankB]

Great news! Thanks, Les!

How about us APUGgers show our faith in the new company by putting in a few orders?

 

[Robert Brummitt]

Yea!!!
Now, we need to buy stock and stock up on products!

 

[BWGirl]

Thanks for keeping us in the loop, Les!

 

[rbarker]

Great news, Les. Do you have a link for the news announcement by chance?

 

[ann]

http://www.shutterbug.com/news/021705ilford/

 

[rbarker]

Ann - thanks for the link, but the Shutterbug article doesn't mention the management buyout, which (I assume) was mentioned today (or more recently) in the UK press.

 

[Jim Chinn]

I just sent an Email of congratuations, encouragement and thanks to the new management and all the employees at the new Ilford Photo.

 

[MattCarey]

Here is a news article on this:

http://www.manchesteronline.co.uk/business/general/s/146/146929_300_jobs_saved_at_photo_firm.html

"OVER three hundred jobs were saved today when historic Cheshire photographic products company Ilford was bought by its bosses."

Matt

 

[Thomassauerwein]

This is really good news.! Now we need to explain to them how important 25 speed film is. Maybe they will pick up where Agfa left off. ( just wishfull thinking)

 

[John McCallum]

This is excellent news, great stuff!

 

[sergio caetano]

It's quite good to hear that. Thanks Mc Lean.

 

[aldevo]

A positive development - but not the whole story

It's just been announced that the Management Buyout has been successful and that Ilford will hold a press conference on Monday 28th Feb at Focus, the annual UK Photo Show. The new name of the company will be Ilford Photo.

Les - thanks for the post, but the link you posted does not appear to address a management buyout.

The information in the article is, generally, positive but all it really states is that production is continuing at Ilford while an accounting firm has taken over administration. I don't think there is any mention of long-term equity holders.

Re-naming the company is a matter of satellite significance - what we really need to know is who actually owns the company and assumes liability for ensuring its obligations are being met.

 

[aldevo]

Whoops - sorry Les, didn't realize it was Ann who posted the article. My apologies.

 

[aldevo]

Having read the Manchester article it's clear the management team has bought the operations.

Still, I really don't like sound of the lease-back arrangement. Admittedly, I don't know the terms but taking a page from the airline industry (where planes get sold by the airlines to groups like GE Capital and then leased back, etc.) it usually suggests the leasee lacks liquidity.

Regardless, it looks like Ilford will be around for at least a little while yet.

Now if we could only do something about Forte...

 

[zenrhino]

Yea!!!
Now, we need to buy stock and stock up on products!

If they're publicly traded, I'd gladly buy some shares.

 

[argentic]

If they're publicly traded, I'd gladly buy some shares.

Me too.

 

[Steve Roberts]

If you go to Ilford's website and click on "Latest Press Release", all is explained in great detail.
Steve

 

[Tom Stanworth]

Having bought a load of sheet film (for me and them...), I am mighty pleased to hear it.

Tom

 

[geraldatwork]

For me it is good news. For my 35mm photography I use Delta 400 and occasionally XP2-Super, Their MG IV fiber paper, and their rapid fixer. Using Kodak D-76 and Dektol developers. I have invested a lot of time learning their products and was concerned. Hopefully the managers/owners have a good idea how to move the company forward.