Rollei belly up?

MP Guy · 03-02-2009

Gandy called me today to let me know the Rollei has totally gone bust. I cant seem to find any news on this.

bmattock · 03-02-2009

Quote:

Originally Posted by MP Guy

Gandy called me today to let me know the Rollei has totally gone bust. I cant seem to find any news on this.

http://www.gfw.de/newsticker/detail.html?id=21189

sevo · 03-02-2009

Yep. Franke und Heidecke filed for insolvency today, according to press releases. We'll see whether that amounts to "totally gone bust", though - they've done so about once per decade since the seventies...

Sevo

historicist · 03-02-2009

wouldn't be the first time by a long way - hope they make it through this time as well.

literiter · 03-02-2009

I always wanted to do this (via Google translation service) :

Franke & Heidecke GmbH, Precision & Optical, headquartered in Brunswick has declared insolvency.

The Hans R. Schmid Beteiligungs GmbH, Offenburg, had in September 2008 a majority of the company involved. For the majority shareholder Hans R. Schmid, an avowed follower of the products of the house, his commitment as a "heart issue" had said, there was no longer an alternative as to insolvency.

Although at the time of the takeover it was clear that a successful rehabilitation with significant effort would be, Schmid took the job and acted decisively: Additional specialists were recruited, the weaknesses in the company and millions of rays including manufacturing and quality assurance invested.

These measures succeeded in quickly to make progress, however, were the massive failures of the past, not in the required time to remove. When finally - the new shareholders at the time of the takeover is not known - financial and other contaminated sites were revealed, it became clear that a self-remediation, using millions of other amounts to be consulted. This even more than was added that negotiations with key business partners, banks, and the attempt to obtain public funds, also failed.

The new shareholders had until the last several times, and despite significant loss risk additional funds invested into the company and gave the society and the hope of receiving the 131 jobs so long alive. Now was the bankruptcy no longer be avoided. Schmid has invested a 2-digit million amount.

01.03.2009

iamzip · 03-02-2009

Terrible, terrible news. Hope they pull through.

bmattock · 03-02-2009

Quote:

Originally Posted by iamzip

Terrible, terrible news. Hope they pull through.

They were at death's door. Fortunately, the doctor pulled them through.

With apologies to Rodney Dangerfield.

iamzip · 03-02-2009

Better translation here (as PDF):

http://www.luminous-landscape.com/essays/FH.pdf

Keith · 03-02-2009

The Rollieflex TLR to me has always been an icon ... the sight of one conjures up all sorts of images you associate with 20th century culture!

Very sad news!

Frank Petronio · 03-02-2009

I thought they already went bankrupt years ago? Is there such a thing as double or triple bankruptcy?

iamzip · 03-02-2009

Insolvency is different from bankruptcy. According to Wikipedia, insolvency is defined as the inability to pay one's debts. I don't know exactly what this means in terms of Rollei.

gutguido · 03-02-2009

This is really, really sad news. I hope they pull through like they have done in the past. But in this environment, it would be much more difficult to find a white knight / new investor to step in to bail them out.

If the company does go down the path of bankruptcy ... do you guys think the value of some of the cameras will go up? Just thinking out loud, the latest models (FX, FW, FT) had not been in production for long, and there would be still fewer new unused copies available. Coming to think of it, I have just found the perfect rationalization to persuade myself to go out and buy one - perhaps I can even justify to my wife that it's an "investment"!

maddoc · 03-02-2009

Sad news indeed. Rolleiflex cameras are and were something special. Hopefully, they can survive again.

FallisPhoto · 03-03-2009

Quote:

Originally Posted by literiter

I always wanted to do this (via Google translation service) ...

Makes me sad to think of all those millions of poor rays that were so mercilessly invested. That's almost as surreally nonsensical as Babblefish.

On a serious note, they had to have seen this coming. The time to do something about it was then.

Merkin · 03-03-2009

The thing that baffles me is why a brand new rolleiflex is 5000 dollars. Yes, i realize they are exceptionally well made, but they are 60 year old bodies with 30 year old meters. Their tooling can't require replacement that often. They have put themselves in a position where they are competing with themselves, because of the used market. They obviously haven't learned the lesson of their last 3 or 4 bankruptcies. They need to pull an M4-2 type move if they manage to not go completely tango uniform, which might involve production outside of germany. They have been making the camera for so long that they have obviously mastered the nuances, and there is no reason that they cannot reduce the price considerably. Medium format film photography isn't going anywhere, and if there are idiots who are willing to pay nearly 400 bucks for a plastic lubitel reproduction, rollei would have no problem selling rolleiflexes for 1000 to 1500 bucks. Leicas and Hasselblads are also very expensive, but at least they innovate their products from time to time. If I were rolleiflex, I would produce a meterless model with a simple flash sync that is more like their classic cameras, or something along the lines of the rolleicord. The trick for them is to make cameras that make people willing to pay a little bit more for a brand new one instead of buying a used one.