The photo studio chain Studioline is more than 110 years old. Now the company is filing for bankruptcy.
The Studioline Group, which is represented in Germany with around 80 branches in the studio portrait photography sector, has filed for bankruptcy. This was reported by the insolvency portal “Indat” among others. The main companies, Studioline Photostudios GmbH and My Photo Studio GmbH, as well as 75 subsidiaries have filed for bankruptcy at the Kiel District Court. The court has approved the appointment of lawyer Reinhold Schmid-Sperber as provisional insolvency administrator.
Despite the financial difficulties, business operations are continuing and the wages of the 500 employees are secured through insolvency benefits until the end of September. New trainees began their training as planned on August 1.
The company’s crisis is due to several factors, including declining willingness to buy as a result of inflation, lower customer traffic in shopping centers and increased costs due to increased index rents. Additional burdens arose from planned new openings.
However, Schmid-Sperber is optimistic and sees good chances for restructuring the company. Many photo studios are profitable and there are approaches to improving results. The aim is to create a long-term perspective for the traditional company and its employees.
Studioline has developed over generations. In 1910, Carl Prien founded the first branch in Kiel. In 2003, the company refocused on photo services and in 2013, the largest market player, Probild-Studio/Mein Fotostudio Group, was taken over.
