Calumet Photographic - Closes US Stores, files for bankruptcy, Gives Employees Zero Notice

by JamesNYCMarch 13. 2014 05:53

Calumet Photographic - "It's where the Pro's DID NOT GO often enough!"

Calumet Photographic, the Chicago based camera supply, photo rental and photo retailer that first opened 1939 abruptly closed its doors and filed for Chapter 7 bankruptcy protection after 75 years in business.

Some employees took to Facebook and Twitter to express anger over the sudden closure, saying they were not given prior notice.

On its Facebook page Calumet said that it was closing its stores in the United States, but that its European stores would remain.

According to court documents Calumet Photo Chapter 7 filing, in which a company prepares to liquidate, it lists assets of less than $50k, and and estimated liabilities in excess $10 million to $50 million.  
Assets of less than $50k is interesting when you consider how much product they stocked and rental equipment that was held in their inventory. Calumet’s bankruptcy filing lists 585 creditors, including photo manufacturers such as Canon, Fuji, Manfrotto, Phase One, Hasselblad, Cambo, Mac Group and many others.

Calumet photo.com LLC has voluntarily filed for Chapter 7 bankruptcy, listed as case #14-08908 in the Northern District of Illinois United States Bankruptcy Court. The filing is dated March 12, 2014  Calumet Photo LLC Bankruptcy Petition

Hours after blog posts about Calumets demise started appearing on photo blogs, both Calumets Facebook and Twitter accounts disappeared.

One Photo manufacture told me that they cut off Calumets credit nearly 9 months ago when Calumet was more then 180 days over due paying their invoices. That manufacture could be considered on of the lucky ones with only $6500.00 owed them by Calumet.

After that phone call I took a bike ride over to the Calumet on 22nd. Street here in NYC.

There was a note on the door

Click the image to enlarge and read.

 

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Comments (1) -

Peter Bradshaw
Peter Bradshaw
4/2/2014 6:57:37 AM #

There's more -- maybe a lot more -- to this story.  See Case# 14-08893.  also go to calphotous.com.

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