Sunday, May 04, 2008

No More DMC?

DMC is declaring bankruptcy. This is the official press release from DMC on 24 April 2008, telling us they will "undertake significant restructuring in the near term". This apparently meant not paying April's wages to their workers in France. That is a surefire way to kill the business, combined with the news report confirming the bankruptcy. DMC's official website is saying the bankruptcy court may hold a hearing in May. DMC is a major supplier of threads for Cross stitching, either as individual skeins, packed in kits, or providing the source materials for custom thread dyers.What does this mean for Cross stitchers? Other thread suppliers should enjoy the opening market opportunities but it may be a while before new colours are in place to replace the DMC colours. Thread prices will probably go up. Less competition will mean thread makers have a chance of making better margins. Ah well. Interesting!


Deborah said...

When I was in elementary school in the early 70s, girls had to learn the needle arts. Unfortunately, my teacher was so mean, I refused to learn. Now these crafts are no longer required and companies that supply these crafts have no purpose. I wish we could all somehow wish these skills to life again.

Anonymous said...

Pardon me for not really knowing how to work this site, but I wanted to wish all the mommies a HAPPY MOTHERS DAY!! Especially mine who has been my rock for as long as I can remember! This page is too short and there aren't enough hours in the day to list all the things you've done for us nor are there words to express our appriciation so we simply say THANK YOU!! You continue to inspire me to be the mother I am...I have some big shoes to fill!! Some say superheroes fly high in the sky...I beg to differ!!