Wide-format NUR battles with bankruptcy revelations

The investment termination has also brought NUR’s previously announced debt restructuring agreement to a screeching halt, as the deal with the lender banks hinged on the closing of the Inspire agreement. Hence, NUR has announced that its outstanding bank debt will be accelerated.

While NUR has begun discussions with alternative investors, including a proposed offer from major shareholder and former chairman Dan Purjes, it has mentioned the possibility that it will seek protection from its creditors under Israeli bankruptcy laws.

Adkote general manager Ian Cleary is adamant these developments will have little effect on the local market for its wide-format machines. “Not in the short term, and not in the long term,” he says. “Following my recent conversations with NUR, I don’t see any effect crossing over to local markets at this stage.”

Cleary cites the wide-format market in Australia as currently very strong, with 20-25 installations of NUR machines completed so far. “The release of the Expedio in particular has been very successful, with three installations in Australia already to complement the 40 worldwide.”