I like the bit about the glass plates.

Bob

in which

Phil Harris, spokesman for Ilford is quoted:

 "Black-and-white has been declining by 5-7% per year, and
  last year it declined by 20-30%. I think next year it will
  be the same"

50-60% in two years - yikes, no wonder they cut the work force in
half.  They need to cut it in half again, quick.

 "then the decline will flatten out as we reach
  the core market of fine art, student and specialist
  black-and-white photographers."

In my [too many] years at Booz-Allen I saw clients hanging
many, many such graphs up on the wall. They are so common
in sick companies that they are an inside joke: "Yeah, the
CFO brought a hockey stick to the meeting".

Typically the company is going down hill at [some large number]
/year for 2[or more] years, and the management projects
that in the space of a  month or so this graph will flatten
out, and maybe go up at 25%/year.  Today's date is invariably
at the heel of the hockey stick.  Sometimes the heel is scheduled
for 'next year' if management has decided to show they are
taking a 'long hard look at projections'.

This turn-around just -doesn't- happen.  A company and market
in decline have momentum and don't turn the corner
on a dime.  We are not talking the price of shares, we
are talking about people:  the owners, employees, managers,
distributors, manufacturers' reps, retail outlets and finally
the customers.  Employees will be leaving at the rate of 9
a month if the decline is 2.5%/mo.  Soon the people remaining
are there because they are unemployable.

Ilford should be asking themselves 'can we be in the black
with 20/10/5% of the business we have now?'  If the answer
is yes, they should immediately downsize to that projection
and start showing profit.  Get rid of all the employees the
company would be stuck with if they depended on attrition.

 "The current [product] list was [pared down] by the
  receivers for maximum efficiency, so we will
  reintroduce old [product lines].  For example, we are the
  only company in the world that can coat glass plates,
  so while it would not be a big part of our business,
  we want to consider it. We are committed to black-and-white."

Someone with a head on their shoulders did what was necessary
to keep Ilford alive with a swift amputation and the present
management, who bought the company from the receivers, are
going to turn right round and re-introduce a slew of
unprofitable products.  Re-attach an already amputated
gangrenous limbs, so to speak.

 "We plan to be the last man standing in
  black-and-white imaging."

Wonderful: "We don't care if this is going to a be viable
business or not, we will stand our ground."  -- Charge of
the Light Brigade -- There is nothing the British like
better than a noble failure.

The management may as well take 'Roll on Death'
as the company motto.

                        *           *            *

A company's commitment to a market is irrelevant.  Only
the customers' commitment counts.

If Ilford is to be saved, only _WE_ can do it.

What's the deal with US subsidiary?  Why is it still for sale?  Who's going
to distribute Ilford products in the US if not Ilford?

Derek

There is no mention of the Cibachrome business there - does anyone know if
that side has been bought?
The Co. I work for buys a lot of paper from them.
Ta
Alan.