A strong player in the professional photo market at the Norwegian west coast, Ur & Foto had stable sales of NOK 20 million (Euro 2.74 million/US-$ 3.4 million) for the last few years, but recently suffered from low earnings and increasing costs. All Ur & Foto employees will join Japan Photo, and the company’s outlet in Bergen will remain open for a limited time in addition to Japan Photo’s own store.
The takeover of Ur & Foto by Japan Photo is only the last in a series of several incidents when specialty photo retailers in Norway had to sell their businesses or to close their doors, said Tor Weatherstone, Scandinavian photo consult, citing the dramatic development of the photo retailing business in Norway. High cost, the erosion of profits in the camera business as well as fierce competition from leading electronic chains and online retailers had resulted in a very difficult situation for specialty photo shops in Norway, Weatherstone added. Earlier this year, Fotomiljø AS of Kristiansand, one of the leading photo specialists in Southern Norway, closed down after heavy losses.
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