Updated: Imagestate In Administration: ‘New Investor’ Picks It Up

–pan exclusive–if you use this article please credit and link back to www.photoarchivenews.com

Tues 14 feb:
PAN reader David Herrod writes: My connection with Imagestate goes back to when it was called Images. The transition to Imagestate went smoothly. However, recent events have left me high and dry. No notice given, No information about my property, or commissions. If anyone can help, I would be obliged.
David Herrod. – info@davidherrod.co.uk

PAN Update Tues 7th Feb: Administrators appointed – ReSolve, One America Square, Crosswall, London. EC3N 2LB Tel: 0207 702 9775 resolvegroupuk.com —-

Update Feb 1st 12:53pm ImageState URL now links to Impact Photos home page.

Jan 31st: Reports into the PhotoArchiveNews.com office at the end of last week suggested imagestate – ‘Quality rights managed and royalty free stock photography for all uses’- was in trouble, a message on their website (above) read ‘The imagestate website is no longer available’. We emailed the agency on Friday and a reply told us they would be ‘in touch Monday’.
This statement has just been released to us now:

31st January 2012
IMAGESTATE TO CLOSE
Imagestate Media Ltd and Imagestate Media Partners Ltd will cease trading with immediate effect and have entered Administration. The assets of the above companies have been acquired by a new investor.

The decline in the traditional stock photo business and increased competition on price in the market place has resulted in the erosion of sales volume and reduced our ability to compete effectively as a general stock library.

Although the above companies have ceased trading the ongoing business of Imagestate will be managed by Impact Photos and Heritage Images will operate separately.

The new investors see future opportunities to develop the existing platform and provide more competitive offerings in specialist areas for all our customers moving forward.

The new organisation looks forward to working with its content partners, clients and its international network of agents.

There will be a change in the management structure but familiar faces will remain. For further information please contact inform@imagestate.com
- ENDS-

Here is how our American stock photo industry news site AboutTheImage reported on last time Imagestate was ‘wound up’ in 31 October 2007: SAA claiming Imagestate dissolution leaves contributors unpaid

First PAN reader comments in:
6.45pm:
‘Again! How many times is that now?’
6.48pm: Again!!
PAN Update Feb 1st 7:00am ….OK OK, lots of comments coming in on this, from now on we are only going to publish comments if you are happy to be named – no anonymous comments going up!

If you would like to add a comment to this statement please feel free to email me here: will@photoarchivenews.com – we will publish comments no matter how interesting.

Posted by Will Carleton
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