A source that wishes to remain anonymous has informed JimOnLight.com that SGM Lighting has filed for bankruptcy. A press release is pending on the subject and will be released early next week from SGM.
Peter Johansen, founder of the Martin Lighting group, took over SGM Lighting about 18 months ago — today we learn that the company has filed for bankruptcy, and most of its 80+ employees have been sent home pending status clarification of their jobs. This sucks.
From a Danish-news language article I found on this while trying to get more information — this is the first news of this here in the US, broken by JimOnLight.com:
Peter Johansen bought the Italian company SGM Lighting in 2013 and moved in this regard all workplaces to Denmark – specifically Sommervej in Haslemere.
The aim was to create a leading global supplier of intelligent lighting design, such as machines that can perform 3D lighting effects.
The acquisition was also a reunion with the industry in which he left in late 1990, when he claims that it was ‘squeezed’ out of the Martin Group, which he was the founder:
“I left the industry as number one in the world and then going back again .. It feels a bit back then, Muhammad Ali had won the World Cup and definitely going back and got a lot of beatings,” told Peter Johansen in an interview with TV 2 | Ã˜STJYLLAND in 2013.
Peter Johansen has also previously had a brief career in the luxury yacht industry with the company ‘Royal Denship’. The adventure ended in bankruptcy.
Sorry to break this news, world. I for one loved the G-Spot. In other news about SGM, the reallocation/acquisition of SGM by a new financier will bring another 400 jobs back to Denmark, so there is that. Not sure how that helps the American lighting industry, but people having a way to sustain themselves no matter where they are is a good thing. I’m sorry for the SGM employees who will suffer from this loss.
The good news here? SGM is BACK AT IT as of November 2015! Check it out!