In a statement posted to their website, New Jersey-based lighting company, DynaLite, founded in 1970 has closed its doors and filed for Chapter 7 bankruptcy. They say that they find it “difficult to remain competitive” and have decided to close the company.
It is with sincere regret and a heavy hard that I announce that DynaLite Inc. has filed for chapter 7 bankruptcy and has closed its doors.
For over 50 years, DynaLite has been providing lighting solutions for photographers. We are extremely proud of what we have accomplished and the careers we have helped. Unfortunately, due to the current decline in the photography market, we have found it difficult to remain competitive.
I want to thank you all for the years of support. It has been a pleasure servicing the photographic community.
– Peter Poremba, DynaLite CEO
Unlike when Bowens filed for bankruptcy, DynaLite isn’t blaming the innovations by its competitors for its downfall, instead placing the blame squarely at the feet of “the current decline in the photography market”. When it comes to lighting, I’ve not seen this decline. More people than ever are buying flashes now than they ever were because they’re so much easier to work with now. While the statement does say that they find it “difficult to remain competitive”, I’m not entirely convinced that a shrinking market was the cause.
The DynaLite website remains largely unchanged except for the statement above, and still lists all of their products and kits, although they no longer offer a way to purchase them. Products are still available through retailers, like B&H, although it will likely be a case of selling off the stock now, as has happened with other brands in the past that have disappeared.
For those who don’t know the difference between Chapter 7 and Chapter 11 bankruptcy (I didn’t until recently), have a read of this. Essentially, though, with Chapter 7, the business ends and its assets are sold off to pay the creditors. With Chapter 11, the business continues as normal and negotiates with creditors to alter terms of any debt owed without having to liquidate the company’s assets.