Landa seeking court protection

Once high-flying printer maker Landa Digital Printing, the Israeli company known for its Nanography technology, has filed for court protection in Israel, seeking a stay of proceedings to allow time for negotiations with potential investors or buyers. This move comes after a cash flow crisis, stemming from a sudden halt in funding from existing shareholders and the company’s inability to secure sufficient sales following the drupatrade show. The company owes approximately NIS 1.75 billion (around $516 million) to creditors, according to numerous industry reports.

Local reports noted the company intended to lay off more than 100 employees (or more than 20% of its workforce) as part of the restructuring process.

Landa announced that some of the shareholders who funded the company throughout the years intend to stop providing funding. This created a “cash flow crisis” for Landa, prompting the company to undergo reorganization, implement cuts, and continue seeking funding.

In a statement announcing the filing, Landa noted its continued support and dedication to customers, stating, “the company is completing the reorganization process and continues to place special emphasis on the success of its customers and will continue to serve them fully and continuously.” It further noted that all customers have been contacted and will continue to be informed of updates as they arise.

Israeli business and economics publisher Calcalist reports the company is working with Deloitte on its strategic planning.