DxO Labs in Receivership, Bankruptcy Case Opened: Report

DxO Labs has reportedly gone into receivership as a bankruptcy proceeding is opened in France. The company is mum on what exactly is going on behind the scenes but says its customers shouldn’t be affected by the financial and legal situation.

Canon Rumors first reported that one DxO Labs customer has received the following message from the company:

Hello sir,

In fact, the company has recently been placed under a regime of judicial administration, the time to reorganize.

Although we can not comment on this situation, we can nevertheless assure you that the company is absolutely not in liquidation and that we are confident that our customers will not be affected by this procedure.

An admin in the Canon Rumors forums then found this legal notice regarding the situation:

Adresse :
3 RUE Nationale
92100 Boulogne Billancourt
Annonce légale publiée dans le Bodacc n°20170082 du 27/04/2017
20 décembre 2017
Modification de représentant
Enterprise (s) issuer (s) of the advertisement
Name : DXO LABS
Code Siren : 444 777 577
Legal form : Limited Company
Company officers : Alternate Auditor: BEAS represented by Pierre Victor; Statutory Auditor: DELOITTE & ASSOCIES in office on March 23, 2006; President: MENIERE Jerome on 15 December 2017
Legal notice published in the Bodacc n ° 20170244 of 20/12/2017
March 16, 2018
Judgment
Activity : design and marketing of image processing software, design, marketing of electronic components.
Comment : Judgment declaring the opening of a bankruptcy proceeding, date of cessation of payments on January 15, 2018 appointing administrator Selarl Fhb Mission Conducted By Me Hélène Bourbouloux 16 PLACE IRIS TOUR CB21 92040 Paris Defense Cedex with powers : assist, legal representative Selarl C. Low Mission Conducted By Me Christophe Bass 171 AVENUE CHARLES DE GAULLE 92200 Neuilly-sur-Seine. The claims are to be declared, within two months of this publication, to the Judicial Agent or on the electronic portal at www . Creditors-services. com.
Date of effect : 07/03/2018
Company (s) issuing the listing
Denomination : DXO LABS
Siren Code : 444777577
Legal form : Limited Joint Stock Company
Address : 3 rue Nationale 92100 Boulogne-Billancourt
Legalnotice published in the Bodacc n ° 20180053 of 16/03/2018

From the legal notice, it seems that the receivership was triggered by DxO Labs failing to make payments.

Here’s Wikipedia’s explanation of receivership: “In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person ‘placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights’—especially in cases where a company cannot meet financial obligations or enters bankruptcy.”

The DxO name may be best known around the world for the eponymous camera ratings, but the camera testing operation and the rest of DxO Labs are actually two completely separate businesses now — DxO Image Labs/DxOMark (the camera rating lab) was spun off from DxO Labs back in September 2017.

DxO Labs is the maker of photo software (PhotoLab, FilmPack, ViewPoint) and the DxO One camera attachment for the iPhone — a much-hyped device that appears to have fallen flat with consumers.

The company is also the owner of the Nik Collection of photo editing software, having acquired it from Google in October 2017.

If DxO Labs’ reassuring remarks are to be believed, then the Nik Collection will continue to live on after DxO Labs is “reorganized,” but generally the words “receivership” and “bankruptcy” aren’t good signs when discussing a company’s well-being.

We’ve reached out to DxO Labs for comment and will report back if/when we hear back.

from PetaPixel https://petapixel.com/2018/04/23/dxo-labs-in-receivership-bankruptcy-case-opened-report/