Calumet declares bankruptcy in the US

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Calumet Photographic, part of the Calumet Group, had been planning a restructure, which would have enabled the company to avoid bankruptcy. But after the loss of a financial supporter, those plans have had to be abandoned, Calumet says.

Instead, the company has filed for Chapter 7 bankruptcy, which will result in the liquidation of its assets. The company says, however, that its operations in the United Kingdom and Europe will not be affected by the move.

According to a press statement released this morning, the companies in Calumet Group in Europe and the UK are financially separate and operate independently. “The filing of Chapter 7 for Calumet Photographic in the United States has no direct impact on Calumet in Europe and the United Kingdom,” says general manager of Calumet, Christof Bergmann, in the statement. “Right now, we are developing plans for a return to the US market, with retail locations and an online presence.”