Spector Photo Group sells Föfoto through an MBO

According to a press release, two of the current managers of Föfoto together with a group of private investors, specialized in crisis management, acquired the retail chain. The agreement includes that Spector is released from all possible liabilities in the future and the company has the right to continue to use the brand Photo Hall in Hungary for the next five years.

At the end of 2008, Föfoto had 52 own stores as well as 70 franchise stores. Its 2008 revenue amounted to Euro 24.5 million