In an announcement posted to their web site, New Jersey-based lighting firm, DynaLite, based in 1970 has closed its doorways and filed for Chapter 7 chapter. They are saying that they discover it “troublesome to stay aggressive” and have determined to shut the corporate.
It’s with honest remorse and a heavy onerous that I announce that DynaLite Inc. has filed for chapter 7 chapter and has closed its doorways.
For over 50 years, DynaLite has been offering lighting options for photographers. We’re extraordinarily happy with what now we have completed and the careers now we have helped. Sadly, as a result of present decline within the pictures market, now we have discovered it troublesome to stay aggressive.
I need to thanks all for the years of help. It has been a pleasure servicing the photographic group.
– Peter Poremba, DynaLite CEO
In contrast to when Bowens filed for chapter, DynaLite isn’t blaming the improvements by its rivals for its downfall, as an alternative inserting the blame squarely on the toes of “the present decline within the pictures market”. On the subject of lighting, I’ve not seen this decline. Extra individuals than ever are shopping for flashes now than they ever have been as a result of they’re a lot simpler to work with now. Whereas the assertion does say that they discover it “troublesome to stay aggressive”, I’m not fully satisfied shrinking market was the trigger.
The DynaLite web site stays largely unchanged aside from the assertion above, and nonetheless lists all of their merchandise and kits, though they now not provide a technique to buy them. Merchandise are nonetheless accessible by means of retailers, like B&H, though it’s going to seemingly be a case of promoting off the inventory now, as has occurred with different manufacturers up to now which have disappeared.
For many who don’t know the distinction between Chapter 7 and Chapter 11 chapter (I didn’t till just lately), have a learn of this. Basically, although, with Chapter 7, the enterprise ends and its belongings are offered off to pay the collectors. With Chapter 11, the enterprise continues as regular and negotiates with collectors to change phrases of any debt owed with out having to liquidate the corporate’s belongings.