FotoKnudsen filed for bankruptcy

“This is the worst day in our 50-years history,” said Ole Bjørn Knudsen, Managing Director, talking to the local newspaper BA. “I am very sorry on behalf of the employees, the company and the Knudsen family that there was no other solution.”

After several years in the red, things seemed to look brigther for FotoKnudsen in 2011, when the company reached a turnover of NOK 232 million (Euro 31,2 million / US-$ 41.8 million) with an operating profit of NOK 3.4 million (Euro 0.46 million / US-$ 0.61 million). However, the company suffered a loss of NOK 11 million (Euro 1.49 million / US-$ 1.99 million) in 2012, resulting in the termination of credit lines by the banks. While the Bergen District Court will appoint an administrator to wind up the company, Knudsen said he hoped the uploaded customer pictures and the films received by the company for developing and printing will be safe. ”I cannot image a situation where this is not taken well care of and the pictures will not available,” Knudsen said.