NEWS

Zumtobel has put Space Cannon, its innovative German LED luminaire subsidiary, into receivership after discovering that its product range failed to comply with standards.

Founded in 1988 by Bruno Baiardi, Space Cannon was acquired by Zumtobel in 2007 following Mr Baiardi’s death. At the time, the company reported annual sales of about £6 million.

Zumtobel said Space Cannon’s product portfolio failed to comply with international norms and standards, which was unknown to Zumtobel when it acquired the company. After discovering the product deficiencies in recent months, Zumtobel decided to apply for liquidation. Operations will be discontinued, affecting 47 employees.

‘While we regret this step, particularly in view of the highly motivated workforce at Space Cannon, we have no alternative,’  said Zumtobel’s chief executive, Harald Sommerer. ‘Given the substantial negative legacy of Space Cannon, we were forced to admit that the company is no longer viable.’

RELATED
Atrium to market iconic Flos range in UK

Atrium, the organisation behind Modular Lighting, is bringing its once well-known name back – and will market Flos’s portfolio of luminaires in the UK.

RELATED
Philips lighting sales now 20% LED

Sales of LED products were up by more than a third for Philips Lighting in the second quarter of the year, accounting for 20 per cent of the company’s revenue.