Flash-maker Metz files for insolvency; administrator says that production and support will continue
posted Wednesday, November 19, 2014 at 6:10 PM EDT
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...
Update 11/20/14: We have now heard from Metz' press office, who confirm that television and camera lighting product lines are under the same company, and that "during the preliminary insolvency process all business operations will be entirely continued. All products and services will be provided as usual. The aim of the insolvency process is to restructure and restart the company".