Reuters: Bankruptcy News: Technicolor says French plant files for insolvency

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Technicolor says French plant files for insolvency May 25th 2012, 14:43 PARIS | Fri May 25, 2012 10:43am EDT PARIS May 25 (Reuters) - French digital video specialist Technicolor on Friday said its one remaining set-top-box factory in France has filed for insolvency. The former TV maker has been seeking a buyer for the Angers site, which employs around 330 staff, as it attempts to find a partner for its loss-making set-top box business. Technicolor has been reshuffling its business towards services for the cinema and entertainment industries after it failed to keep pace with technological advances in its core TV and cathode-ray tube business and faced increased competition from cheaper set-top boxes. (Reporting by Elena Berton; Editing by Christian Plumb)

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