Vivitar staff axed as firm owes '£4m'
Vivitar’s offices have closed with the loss of 26 staff – including 14 in the UK – as the firm, known as Vivitar SA France, ceases trading.
The firm has gone into administration owing more than £4m to creditors.
The news spells the loss of 14 jobs in Leicester and 12 in Paris, where the company was based.
Vivitar branded products were made in the Far East for the European market. UK clients included Argos.
However, the move may not mean the end of the Vivitar brand name, which has been sold to US consumer electronics firm Sakar International.
It is understood that Sakar will continue to market Vivitar cameras and related accessories.
Vivitar was set up in 1938 and had a turnover of £23m. It was sold to US firm Syntax Brillian in 2006.
But Syntax Brillian ran into financial difficulties and filed for bankruptcy under Chapter 11 in the US.
‘Unfortunately, the failure of the company’s American parent has meant that the viability of Vivitar is no longer sustainable,’ said Eddie Kerr, a joint administrator at Leicester-based corporate recovery firm PKF.
Administrators say they will attempt to minimise Vivitar’s ‘significant losses to the creditors both at home and abroad’.
Though known in recent years for making compact cameras Vivitar also manufactured 35mm film-based SLRs such as the 420/SL in 1975, as well as rangefinder models such as the 35EE in 1978.