Industry Notes for the week of April 18
Interesting reads from around the web
Selective Focus: The Industry and the Coronavirus . . . and the Cancellation of Photokina
Digital Imaging Reporter columnist George Schaub ponders the near-term challenges and long-term impact of COVID-19 on camera sales, retail and trade shows.
LSC Communications files for Chapter 11, raises $100M in capital
LSC Communications Inc. announced, along with most of its U.S. subsidiaries, has voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The printer raises $100 million in additional liquidity to continue operating its business and serving clients.
App News
Mylio 3.8 update adds easier on-boarding, uniform UI
Mylio is updated to version 3.8, featuring a new uniform UI across all devices and easier on-boarding of third-party services like Apple, Google, etc. The company has also beefed up its support with community forums.
Financial news
Rite Aid Corp. fourth-quarter loss widens
Rite Aid reported a wider-than-expected fourth-quarter loss and warned of a “tempered decline” in front-end sales during the first quarter after an increase in March due to the Covid-19 pandemic, according to Chain Store Age. The company’s net loss totaled $324.7 million for the quarter ended Feb. 29, compared to a loss of $273.0 million in the year-ago period. Revenue rose to $5.73 billion from $5.38 billion last year.
Serge Crasnianski transfers Photo-Me shares to Tibergest holding company
Photo-Me Ltd., the instant-service equipment group, was notified on April 8 Serge Crasnianski, CEO and deputy chairman of Photo-Me, has transferred his full ownership of 205,000 ordinary shares of 0.5 pence each in Photo-Me to Tibergest PTE LTD.
In Memoriam
Mendel Mendlowits, the Founder of Adorama
Mendel Mendlowits, the founder of Adorama, passed away April 8, 2020. He was 76 years old.
People on the Move
Jim Clark, internet entrepreneur and original investor in Shutterfly, has a new startup, Beyond Identity, a secure password solution, via press release.
