Luminous Landscape Forum
Equipment & Techniques => Medium Format / Film / Digital Backs – and Large Sensor Photography => Topic started by: GregShapps on March 13, 2014, 09:45:22 am
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FYI - Calumet appears to have shut its doors overnight. The website is gone, the ebay store is gone, phone system is still up but no one there to answer.
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From Facebook:
Calumet Photo
After 75 years of business it is with a heavy heart that we announce our immediate closing in the United States (our European stores will continue). It has been a joy to share our passion for photography with you all of these years. We'll miss each other and we'll miss all of our customers. Thank you for everything.
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Shocking! That's really a bad sign of the times. Maybe B&H was just to much competition?
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Shocking! That's really a bad sign of the times. Maybe B&H was just to much competition?
More likely would be Amazon, Alibaba, and eBay. Adorama often appears as an Amazon shipper.
On the west coast, I get stuff out of China faster than New York. B&H often takes 9 days with ground shipping, or even longer in observance of their plethora of holiday closures. Amazon is faster depending on their closer warehouse/shipper location. China and Hong Kong 3 days and often free shipping, even with customs at times. Very odd, but they seem to jump an extra day due to the timeline too.
Still too bad for Calumet. I liked going into their store, but it was never overly busy as against Samy's in LA. Calumet seemed to cater to the pro crowd which seems to be dwindling breed as well, and Samy's to anyone.
Time will take some others down no doubt. Canoga Park closed in the past few months too. Wouldn't be surprised if Bel Air Camera or Mel Pierce were next.
SG
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Very sad. They were pretty much the only professional store in Philadelphia.
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From Facebook:
Calumet Photo
After 75 years of business it is with a heavy heart that we announce our immediate closing in the United States (our European stores will continue). It has been a joy to share our passion for photography with you all of these years. We'll miss each other and we'll miss all of our customers. Thank you for everything.
The question becomes: for how long?
I'm sorry for the shops' owners and staff, but not for the photographers who fondle in real time and then buy elsewhere online. Serves 'em right if they have a local alternative they so abuse and then find they have just killed off their free gropes.
I used to stay with one dealer; it paid dividends in service and in many other little ways - even got a Pentax calendar a few times - still have the Hans Feurer one with girls wearing brilliant, wet cheesecloth...
Even getting E6 processed in pro labs had its pleasures - you met folks you knew and talked a bit of shop. That either depressed you or made you feel smug. At least you knew you were alive.
Rob C
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The question becomes: for how long?
I'm sorry for the shops' owners and staff, but not for the photographers who fondle in real time and then buy elsewhere online. Serves 'em right if they have a local alternative they so abuse and then find they have just killed off their free gropes.
I used to stay with one dealer; it paid dividends in service and in many other little ways - even got a Pentax calendar a few times - still have the Hans Feurer one with girls wearing brilliant, wet cheesecloth...
Even getting E6 processed in pro labs had its pleasures - you met folks you knew and talked a bit of shop. That either depressed you or made you feel smug. At least you knew you were alive.
Rob C
Yea, I agree, but those days are gone, gone and gone.
No much more interaction at a lab or proshop, no more face to face dealings. I't all from the click of a mobile phone.
Through the years I've gone into Calumet in NY, Chicago, LA, San Francisco and rarely walked out with what I intended.
They seemed to go from some stocking pro equipment to small amounts of stock, to calumet brands, to everything is from the warehouse.
It's just a reflection of the economy and competition like Amazon where everybody checks every price online.
I't's also a reflection that professional still photography is marginalized in a stagnate economy.
In a way it's a shame, because a few of the people I knew and liked, in other ways I'm very surprised they lasted this long.
The world has changed and there are few dealers left where you can walk in, talk to someone in earnest about equipment, hold it, try it, test it and buy it.
Yesterday during our lunch break I walked over to B+H to pick up an item and went upstairs to cameras.
I haven't physically been in there in a few years and it just breaks your brain. It's like the world's biggest electronic bazaar on speed.
The semi pro cameras (I guess they're mostly all semi pro now) were just swamped with customers and sales people and they were just banging on fujis, olympus, panasonic, canons, nikons and people were grabbing them one after the other.
It was like those tented shopping areas in Bangkok where people are scrapping over scarfs and fake izod shirts, obviously without the electronic flashing.
Honestly you could hardly tell the difference between any of the camera brands, but once again it just illustrates that the professional vs. the amateur world is 180 degrees apart, though digital has made even the lowest of cameras pretty good.
The Nikon area is the most confusing, because they all look the same with long numbers like 6100, 7100 or something. I honestly wouldn't know or care which one I picked up.
There are gold, silver white, round, square, teardrop reflectors lining every inch of the store, lights glowing, most of the brands I wouldn't know.
Then going back in to the studio with large professional equipment like big bens, clamps, stands, is just a different world.
A decade ago the Calumet stores had a large section dedicated to professional equipment, like what I just mentioned, but that slowly morphed into printers, ink and go pros.
I've kept wondering why the Olympus omd 1, the fuji xti and cameras like that didn't tether and at B+H it kind of hit me that 99.999% of the people in there wouldn't know or care to ever tether to a computer.
Anyway, as busy as B+H is a sales guy told me that in store sales is only 10% of their gross, the rest from internet and call ins.
At the large store in LA, S___s, I don't even go into the store. I buy from a manager in the warehouse.
So if your a pro and you gripe about the prices of specialized dealers like CI or DT, just remember, when you call them you actually get a person that knows about photography and will actually offer professional service.
IMO
BC
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Man, that is sad. A few decades ago I drove to the Chicago store and outfitted my fledging business. Speedo strobes, a Horseman 4x5 and three Nikon lenses and finally a Bronica SQ and three lenses. Man I was in heaven. Over the years I purchased from them -via catalog and phone but gradually found B&H became my go to internet supplier.
I still visit my local camera store and buy from time to time just to help keep them alive, but their inventory grows smaller each time I visit. They did sell me my O-MD.
Goodbye old friend.
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The last thing I bought from Calumet was ink for my ipf5000 (last big ticket I bought from them) and it was outdated. Most any time I asked for anything it was in the Illinois warehouse (I'm in nyc). I could walk across the street to fotocare and get what I wanted with usually better informed sales people. Last time I was involved with a rental from calumet was years ago from their Chicago location. The gear was delivered to shoot location (fly in, shoot overnight, fly out). Many things were missing from the order and they didn't do much to fix it the next day (as we had to stay an extra day because we couldn't shoot). I never went back. They were my go to by UPS starting out in the Midwest, but failed to impress me for the last decade. Sad
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UPDATE from FB:
Calumet Photo
Stay tuned, as we are exploring opportunities to reopen select locations to keep serving our customers. We will post any updates here if there are any.
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I find this really sad!
I primarily bought most of my equipment from two dealers, and one was Calumet. Like was said earlier, I really enjoy the fact that I could call either dealer and speak to them, ask questions, and actually have them know the answer or find it out for me. Calumet was not my camera dealer, but almost every thing else I bought from them, and they were just a phone call away. No matter how large or small the order, I was always dealt with professionally.
Dealing with B&H, or the other retailers, always pisses me off. They never know anything beyond what the manufactuers writes on the box, and trying to get them to put something aside for you is nearly impossible. But now, it looks like I will have to order more stuff from B&H more often, and worry about keeping track of and filing use tax.
The other thing that upsets me is that in Philly, Calumet was one of only two rental houses. I live maybe 10 blocks from the Philly location, so renting was always easy. The other location is an hour drive from me.
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I’m in Cleveland and have been using Dodd Camera for many years. Last year they opened a location in Cincinnati that has been doing pretty well. A month ago they moved a great resource, Nathan, to their Chicago store to bolster a growing rental business there.
It always sucks to see a business lose the fight. However, I am not convinced the old dealer model is dead. From what I understand Dodd will expand their operations in Chicago to help fill the gap left by Calumet. They are not as flashy or well-known as CI or others, but they do business just as bcooter described. I “…can walk in, talk to someone in earnest about equipment, hold it, try it, test it and buy it.” I’m currently testing an ArTec. I will be trying an IQ250 in a few weeks, and also checking out a Leica WATE for my a7r (and their price is cheaper than B&H).
So I still think there are isolated organizations that make it work by listening and servicing our needs.
Dave
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Calumet is one of the larger shops here in Hamburg,
but I only have bought a Gemini 500 Strobe kit from them years ago.
I've always been at a smaller shop only local here (www.ipshamburg.de) -
always got best counselling from them and they stopped me a couple of times
from buying the wrong stuff.
The difference to online sellers is there but actually its not THAT big.
For me their knowledge is worth it, definitely.
Cheers
~Chris
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Bankruptcy
http://www.chicagotribune.com/business/breaking/chi-calumet-photographic-closes-20140313,0,868130.story (http://www.chicagotribune.com/business/breaking/chi-calumet-photographic-closes-20140313,0,868130.story)
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Bankruptcy
http://www.chicagotribune.com/business/breaking/chi-calumet-photographic-closes-20140313,0,868130.story (http://www.chicagotribune.com/business/breaking/chi-calumet-photographic-closes-20140313,0,868130.story)
How can you have more assets than liabilities and file for chapter 7?
Not telling the employees (if that is true) is not cool.
IMO
BC
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More info here (http://"http://petapixel.com/2014/03/13/calumetphoto-us-declared-bankruptcy-gave-employees-zero-notice/").
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How can you have more assets than liabilities and file for chapter 7?
Not telling the employees (if that is true) is not cool.
IMO
BC
Because they don't: http://business-bankruptcies.com/cases/calumetphoto-com-llc
With so much troll in the internet we tent not to read the comments, but sometimes they are the most valuable source of information.
Best regards,
J. Duncan
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WOW:
Assets: $0 to $50,000
Liabilities: $1,000,001 to $10 million
...
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Not telling the employees (if that is true) is not cool.
IMO
BC
Everyone one of my friends that worked at Calumet/Chicago all said the same thing - they knew nothing and all received a phone call last night telling them not to come into work today as they were closing.
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You'd hope they were working on some financing deal or something up to the very last minute thinking it would come through and they wouldn't close….
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Calumet Hollywood help sink their own ship with poor customer service bad management and a revolving door of employes. In the film days you could walk in to calumet and walk out with a softbox, pack, grids and any other item a pro would need for a shoot the next day. You could no longer walk into the store and buy set supplies or equipment without waiting a few days to have it shipped in from another store and sometimes that was unlikely. I would have to run down the street to Samy's Camera who had the items in stock. I ordered a few items 2 weeks in advance for a shoot online with calumet and never received the items. When i called they said they where on back order? Nice of them to let me know in advance. I had to order from NY and pay over night shipping. When digital hit, i made a big mistake purchasing my Leaf back from them. I received no support for a $33,000 item when I had problems from day one. . As a pro I avoided doing business with Calumet on a regular bases.
I personally thinks it stinks to not tell your employee's but I also understand from a business standpoint. How many items would have walked away and I am sure most workers would have taken sick days and not come in.
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The only item that I could have walked out with the last time I visited was seamless...
Robb
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Thank you Brad in SF, and thank you Damion.
They were knowledgeable and assisted me in my -few- purchases.
Calumet to me was a shop that had staff with knowledge, and they used that knowledge to sell you the right gear.
Their inventory as mentioned with the printed dept did narrow down things in grip, and they either had the creme de la creme, or the Calumet brand, and often, neither was fitting the need in that area.
Although I have not read the links posted here, it is hard to blame the company just on what I read (not much but the 2 pages here). The industry has changed and they had a long history and likely hopes to turn around?
This snippet post from bcooter stuck to me: "...The semi pro cameras (I guess they're mostly all semi pro now) ....". :-)
And I thought the best business in photography now a days was selling the gear or teaching the trade...?
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I loved the Chicago store, but being a Pentax/Rollei/Olympus/Panasonic guy there was little I could buy from them. I often just went and bought some little things to support them.
A guy named Steve Goldsmith was just a living dictionary of photographica and a young kid named Josh a bundle of creative energy.
All wonderful, solid, nice people. Hurts to see them go without saying good-bye.
Tom
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I will say that their "house" brands were better than others. Calumet view cameras, rebranded Bowens travellites, rebranded Caltar large format lenses (you get the same lens at a lower price!), stands, grip, scrims, softboxes, etc.
In my area, we had Penn Camera, which went bankrupt, and then was bought and supported by Calumet. So now, we really have two stores that are no longer in business. Sad.
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Time will take some others down no doubt. Canoga Park closed in the past few months too. Wouldn't be surprised if Bel Air Camera or Mel Pierce were next.
SG
If it weren't for Woodland Hills Cam's telescope side, I would guess they too might be having tough times. But I have found them to match other store prices when I needed it, and they are more a "owner run type" business. They are the only shop left in that area. I always preferred giving my business to WH over CC. There are the empty(mostly) walls of Hooper Camera in Chatsworth up north. Hooper hardly rents anything, although they work with borrowLens website as a "partner".
I never got a good vibe from the Canoga Camera manager, or the guy I ended up usually seeing working the SRL/Lens area. But I liked and used their rentals. I bought my first Canon Elan2 at this place and a number of gear many years back. They never once valued a long term customer with anything. Once I found WHills I only when to CC for rental when need be.
Back to Calumet...The last few times I was in their Hollywood store it was about 2 years ago and it was putting most efforts in rentals. Even those items they were trimming down on as they sold me some of there less used LF gear.
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I was surprised at the news. I always thought they were a good alternative. But for the most part I don't really go into stores. I buy from established competent reps from businesses that specialize in what I need. So if I am interested in MFDB for example I am much more interested in a competent dealer and rep I can depend upon. If I need basic equipment from a big dealer I have a pro rep that I can call and get the best prices and quick service. Basically I make friends with people and do business with them. It works!
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I will miss the knowledge and ability to call them and get real answers. Its a shame I had just got the proposal from Calumet. We were going to do a tour celebrating my families 175 anniversary as well as Calumets 75th anniversary. Would have been a good lecture tour. I got the proposal the day before the news was sent to me. What a shame, a good friend lost their job. I liked the fact I could go down and test the gear before I bought it. Something you don't get from the New York stores. Will miss you guys. Tim
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Ty to support these "real stores" if you can:
-- Keeble & Shuchat (Palo Alto).
-- Bears Image (Pali Alto).
-- SAMYS (LA)
-- Freestyles Photo (LA).
and many more!
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Just a thought: could it be possible that companies might invest too much capital into equipment that they then hope to rent, but the rental market doesn't materialize at a high enough level because there simply isn't the work out there to drive the need for renting?
Was a time all the established photographers I knew of had their own studios; that seemed to change over the years, with more and more rental studios coming along. Apart from meaning that photographers lost a prime asset and the understanding of how their space worked - I had two of my own in the end, and the first worked very well and the second one not so well at all - I think it signalled a sea-change in the business, much as I suppose happened with the retailing industry. People with no assets worth squat could set up and eventually crush those who had built up a genuine, committed practice. You simply can't compete with prices when your competition truly has no fixed overheads, and price seems to have become the determining factor in everything. Earlier, it was negotiable and quality usually won the assignment unless you were trying to get work from some ad agencies who themselves represented dodgy clients.
No wonder you have to buy three or four things these days just to get a good one....
;-(
Rob C
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I'm sorry for the shops' owners and staff, but not for the photographers who fondle in real time and then buy elsewhere online.
Agreed, but nothing is going to stop a large and increasing proportion of people from doing that, and the ability to access lots of information and advice about photographic equipment online (along with a vast flood of opinions) makes online purchases ever more comfortable for ever more people.
So, what are the viable business models for a retail store that people can actually walk in to these days?
- Offering rentals, extensive expert technical support, and carrying a stock of many exotic professional tools for immediate purchase?
It seems that only a few very major markets support this these days (just NY and LA in the USA?) And Amazon's ever faster delivery options are narrowing the window of advantage for in-store stock.
- The single brand shop (like The Gap or Apple stores) where online purchases have to go to the corporate owner of the store/showroom anyway?
For photography, my first thought was that only a few prestigious photographic brands like Leica can do this, and then only in a few well-heeled markets. But in a twisted sense this is happening with the two top-selling and most used brands of "camera": not only Apple but now also Samsung, which is starting some of its own "Samsung Experience" locations.
- Manufacturers and distrubuters paying stores to "showroom" their products?
The Samsung Experience locations (often within other shops like Best Buy) are sometimes on a pure showroom/internet-purchase model where even purchasing decisions made in-store are executed there online, for delivery. So store operating costs become part of the advertising budget and less of that valuable retail space is wasted on stocking multiple units of products. So maybe companies wanting their photographic products on display for customers to handle before purchasing will need to pay shops to do that marketing for them, rather than paying shops only for products that get sold in-store.
- Any other ideas?
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went to the one in Chicago frequently - good pricing, reasonable supplies (although less in recent months) and nice people. Sad to see them go.
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I guess I'd better start searching for a good alternative to the Brilliant Supreme Matte paper that I use for lower priced prints ($99 for 44" x 100' roll, 230gsm). Ironically, I just bought a roll a week or so ago and asked the Calumet sales rep for online sales about the other Brilliant papers being discontinued, since they were removed from the website. He said that they were out of stock, but he was not aware of them actually being discontinued. He also told me that their paper was made by Hahnemuhle, FWIW.
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Everyone one of my friends that worked at Calumet/Chicago all said the same thing - they knew nothing and all received a phone call last night telling them not to come into work today as they were closing.
This employee (http://petapixel.com/2014/03/13/exclusive-calumet-employee-reveals-happening-behind-scenes/) wasn't surprised....
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Very sad. They were pretty much the only professional store in Philadelphia.
Allens in Levittown over Calumet any time.
Still sad to see anyone go out of business in this fashion.
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(I got my Phase one p45+ from them , then my Hasselblad hd50 and 60...BUt they voted... [MODERATOR EDIT: Inappropriate political comment])
this is about photography, not your political beliefs. look into the eyes of the employees who have just lost their jobs and tell them how happy you are that calumet closed their doors.
is the future of purchasing only to be online. for the average consumer of photographic equipment, it will in a real sense be to their loss. less competition, higher prices, and having to rely on people like "he who shall remain nameless" for purchasing decisions since they will not be able to actually handle the goods before purchase to see if it fits their needs.
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Well, people have to be willing to pay extra for brick and mortar store service. I support my local store - if I lay hands on a new item for serious and immediate consideration, I feel an obligation to buy it from them rather than from B and H or other online store. If I lay hands on a new item because I am thinking about a purchase, just not that day, and if a used copy comes around either at the same store or online, I may buy the used item wherever it appears.
My "new-old" used toy is my Calumet N studio monorail 4 x 5 (rebranded Cambo camera). Very well made, and there are a zillion basic monorails out there with the Calumet name - it was the cheapest new choice for students. Caltar large format lenses series were made by approximately 5 different manufacturers, the most recent series being made by Rodenstock. Caltar IIN is the Rodenstock Sironar N lens.
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BUt they voted and support houssein Obama.
is it a racial slur ? you know, English is not my native tongue, so am I right that it is somehow derogatory for a person to have an arab name ? do you mind to enlighten me, please...
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is it a racial slur ? you know, English is not my native tongue, so am I right that it is somehow derogatory for a person to have an arab name ? do you mind to enlighten me, please...
Yes, in the USA using the President's full name is intended as a slur.
Back to the original topic, this does make me sad, but I guess it's not really surprising. When I started my business in the late 1980s, I purchased pretty much all of my gear out of the Calumet catalog -- lighting, medium format cameras and lenses, my tripod, etc. Local shops catered to instamatic users, and didn't have much if any professional gear. When I took my current staff position in 1997, we bought all my gear from Calumet. But over the years it became much simpler to find and purchase items from the B&H web site than to deal with the Calumet site. Recently I've been shopping at Calumet (formerly Penn Camera) in Tyson's Corner, VA., when I visit family, and the stock levels were never very good for the things I wanted to buy.
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Yes, in the USA using the President's full name is intended as a slur.
Back to the original topic, this does make me sad, but I guess it's not really surprising. When I started my business in the late 1980s, I purchased pretty much all of my gear out of the Calumet catalog -- lighting, medium format cameras and lenses, my tripod, etc. Local shops catered to instamatic users, and didn't have much if any professional gear. When I took my current staff position in 1997, we bought all my gear from Calumet. But over the years it became much simpler to find and purchase items from the B&H web site than to deal with the Calumet site. Recently I've been shopping at Calumet (formerly Penn Camera) in Tyson's Corner, VA., when I visit family, and the stock levels were never very good for the things I wanted to buy.
My late wholesaler was no better...
;-)
Rob C
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Yes, in the USA using the President's full name is intended as a slur.
but that was not his full name and it was so on purpose by the poster, was it not ?
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NAME: Barack Obama
OCCUPATION: Lawyer, U.S. President, U.S. Representative
BIRTH DATE: August 04, 1961 (Age: 52)
Did You Know?: After serving as an Illinois senator, Barack Obama was elected the first African-American president of the United States.
EDUCATION: Punahou Academy, Occidental College, Columbia University, Harvard Law School
PLACE OF BIRTH: Honolulu, Hawaii
Full Name: Barack Hussein Obama, Jr.
AKA: Barack Obama
Not to get off course, but here is the full info on our sitting U.S. President. Not sure he had anything to do with Calumet closing either.
Paul Caldwell
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A few weeks ago I had secured a rental agreement (strobe packs, lights, stand, booms, bags, butterflies, etc) with one of the Calumet rental shops. I've rented from this particular store for about 7 years, if not longer. Their equipment was always ready to go, and in good shape. When I read about their bankruptcy, I called the store thinking that someone would be there to, at the very minimum, return cameras to owners after repair and to receive rental gear. Nope. Store was shut. I called the rental dept. manager on his personal cell (because by this time we had a good friendship beyond our jobs).
On Wednesday, all employees came to the store. The manager asked for their keys and employee/security badges and sent them home. The store had cameras from a dozen customers (repairs, sensor cleanings) that could not be picked up. They had half their rental inventory out that could not be returned. They had photographers coming to get rental gear who would not be told they were closed, and were met with locked doors and an empty, darkened store. The store had taken 50% deposits on Zeiss, Canon & Nikon lenses from several loyal customers. Employees were owed a two-week paycheck which had never been deposited (via direct deposit).
What a clusterfuck. Clearly upper management doesn't care a whit about anyone but themselves.
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What a clusterfuck. Clearly upper management doesn't care a whit about anyone but themselves.
That's a new one for me; must write it down.
;-)
Rob C
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What a clusterfuck. Clearly upper management doesn't care a whit about anyone but themselves.
This is a bad situation all around, especially for some who had cameras in for repair or made down payment for equipment. However, the idea that upper management not caring, is total BS.
I have spoken to a couple of people who are more in the know then most of the disgruntled employees who have been releasing information on the web. One of those employees spent all day Thursday and Friday calling customers and clients whom he dealt with to help with the situation as best he could.
The fact is that most likely Calumet was going to file Chapter 11 and close a few stores, just like Staples is doing. However, Wednesday afternoon, without notice, the bank called in the note on the company. Nothing can be done after that but to file chapter 7. As of now, the company, and its locations, is most likely being overseen by the bank who is holding the note. I am sure that if management could get into those stores to give back the equipment held within to the rightful owners, they would. But those stores are now managed by the bank, and entering could be considered B&E on their part.
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The fact is that most likely Calumet was going to file Chapter 11 and close a few stores, just like Staples is doing. However, Wednesday afternoon, without notice, the bank called in the note on the company. Nothing can be done after that but to file chapter 7. As of now, the company, and its locations, is most likely being overseen by the bank who is holding the note. I am sure that if management could get into those stores to give back the equipment held within to the rightful owners, they would. But those stores are now managed by the bank, and entering could be considered B&E on their part.
Thanks Joe; that is corroborated by the notice that Calumet put on its doors, as seen in the photo at http://www.43rumors.com/calumet-us-closes-overnight-all-your-preorders-likely-lost/
And anyway, it's just more satisfying to blame the banks.
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My heart goes out to all the Boston calumet employees that have been such an integral part to all the professional photographers in the area over the last 40 years! I hope all of you can find something else to more rewarding do. Calumet and every other photography supplier is suffering from the same disease that is the destruction of the photography business by the new digital era. Clients actually feel that they have to pay nothing for photography that's the real problem. We will miss you guys!
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They could not bother to post Date and Time?
I did get inside information from an attorney that employee's still owed money might not see it, and the secured creditor comes first. I was surprised to hear that info, since I thought the laws covered getting employees paid first. Calumet was sold to a liquidation company and they can sell off the contents. People with small rentals out might get to keep the stuff because it was determined not to be cost effective to go after it in court.
If I understood the numbers they paid 35 cents on the dollar.
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What a train wreck. It's as if upper management simply bled it dry and ran for the hills.
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This was in the WSJ on April 8
http://blogs.wsj.com/bankruptcy/2014/04/08/calumet-photographic-finds-a-buyer/ (http://blogs.wsj.com/bankruptcy/2014/04/08/calumet-photographic-finds-a-buyer/)
"Calumet Photographic Inc., the photography retail chain whose abrupt shuttering and bankruptcy filing surprised customers, has found a buyer for some of its assets.
According to court papers filed Monday in Calumet’s bankruptcy case, CalPhotoUS LLC—a new company formed by Calumet’s former principals—is offering $2.825 million to acquire inventory, store leases and other assets.
The inventory and leases are for former Calumet stores in such cities as Chicago, San Francisco and Washington, D.C. CalPhoto would also take responsibility for any liabilities related to the leases as well as the stores’ former employees and customers.
Calumet, which sold high-end photography and video equipment, filed for Chapter 7 bankruptcy liquidation on March 12 with plans to close all of its 14 U.S. stores. Its European stores will remain open.
Chapter 7 trustee Catherine Steege, an attorney with Jenner & Block, urged the Chicago bankruptcy court to approve the sale at an April 29 hearing.
Calumet is due in bankruptcy court Wednesday for a hearing on such proposals as its request to hire a consultant to help it find buyers for its remaining store leases and other assets."
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I hope they open up again in Chicago. A physical location is useful for buying things like camera bags, filters, etc. However, the new company will have a fundamental problem--lack of goodwill. Not sure if I had a mission critical job that I would rent from them until they establish a track record over several years. Same goes for putting down deposits on equipment.
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I hope they open up again in Chicago. A physical location is useful for buying things like camera bags, filters, etc. However, the new company will have a fundamental problem--lack of goodwill. Not sure if I had a mission critical job that I would rent from them until they establish a track record over several years. ...
But if you rented form them and then the bank shuts them down on one day's notice (which is what happened this time: the bank forced the abrupt timing of closing), then you might get to keep the gear you had out on rental! But seriously, I agree that it could be hard to redevelop good working relationships with professional customers.
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But if you rented form them and then the bank shuts them down on one day's notice (which is what happened this time: the bank forced the abrupt timing of closing), then you might get to keep the gear you had out on rental! But seriously, I agree that it could be hard to redevelop good working relationships with professional customers.
While I cannot guarantee anything, I would almost guarantee that the bank eventually caught up with anyone who had rented a Phase One or comparable back and similar camera and lens equipment.
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I do Ski area,/Golf resort Bankruptcy stuff and represent the same industry secured creditors on a regular basis So I have a working understanding of BK practice and procedure. If you have deposits or your equipment is at a Calumet facility immediately file a Proof of Claim with the court the forms are online and its easy; go to hearings and creditor meetings be apain in the ass its true the squeaky wheel gets oil. If you are owed a significant sum hire a BK atty. maybe somebody who is already representing unsecured creditors in this case. If you have calumet property and you get asked for it by the court return it the crime is theft of leased property or more likely you will get hit with contempt of BK court you get no trial nor any defense == .Don't be like my client who told the BK trustee to F--- himself and found his home and business ransacked by federal marshals and got 5 months and 29 days in Lewisburg Federal pen for contempt (and payed my law firm a ransom to get his contempt reduced to only 45 days and a 10K fine).
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Crain's Chicago is reporting today - "Buyer snaps up bankrupt Calumet Photographic"
http://www.chicagobusiness.com/article/20140502/NEWS01/140509941/buyer-snaps-up-bankrupt-calumet-photographic?r=7354C5895023B2Q (http://www.chicagobusiness.com/article/20140502/NEWS01/140509941/buyer-snaps-up-bankrupt-calumet-photographic?r=7354C5895023B2Q)
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Crain's Chicago is reporting today - "Buyer snaps up bankrupt Calumet Photographic"
Incredible how sloppy journalists can be these days, even in business papers:
Calumet filed for bankruptcy on March 12 in U.S. Bankruptcy Court here, listing assets of between $50 million and $100 million and liabilities of between $10 million and $50 million.
If assets were so much higher than liabilities, as described above, they would not need to file for bankruptcy.
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C&A Marketing Buys Out Calumet Brand, Bringing Back a Few Entities
http://petapixel.com/2014/05/02/ca-marketing-buys-out-calumet-brand-bringing-back-a-few-entities/
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Incredible how sloppy journalists can be these days, even in business papers:
If assets were so much higher than liabilities, as described above, they would not need to file for bankruptcy.
There appears to be some confusion over the numbers.
http://www.imaging-resource.com/news/2014/03/13/calumet-photographic-suddenly-declares-bankruptcy-closes-stores
According to the Chicago Tribune, Calumet has filed for Chapter 7 bankruptcy, and has listed between $50 million and $100 million in assets and $10 million to $50 million in liabilities. However, this court document obtained by Photo Business puts their assets at just $50,000, a frankly horrifyingly low number. To make it more confusing, there appear to be multiple Calumet related filings here, muddying the situation even further.
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After my last experience with them, I'm not interested in working with them again.
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If assets were so much higher than liabilities, as described above, they would not need to file for bankruptcy.
Part of the issue was insufficient liquid assets: when lenders suddenly called in a note, Calumet did not have the cash to pay, and the lenders demanded liquidation. (I can see lenders maneuvering to force liquidation before liabilities exceed total assets, which would mean them getting back less than the full amount that they are owed.)