Ilford is bankrupt

Paradigm Global Partners LLP took over Ilford three years ago from the Japanese paper manufacturer Oji and installed the Belgian manager Paul Willems as new CEO. During the last few weeks, Willems avoided public statements on the financial difficulties of the company after was not able to timely pay salaries to its employees in June. Instead, Ilford’s operational director, Lars Sommerhäuser, announced the desaster to the media, saying that the company had not been able to find a new investor.

Within the next few days, the court will decide whether a bankruptcy proceedings will be opened. The employees, whose June salaries have been paid half by Ilford and the unemployment agency of the Canton of Fribourg, are now waiting for their compensation for the month of July.