Landa Files for Court Protection, Continues to Seek Funding

Ribbon cutting of the Landa and Cimpress agreement at drupa 2024. | Credit: Landa

Earlier this month, Landa Digital Printing announced it would initiate a restructuring process to support its growth while also seeking greater investments into the company. Despite Landa’s recent growth – a 30% rise in press installations according to a statement released by the company – the geopolitical situation and other commercial reasons have created challenges for the company. At the time, local reports noted the company intended to lay off more than 100 employees (or more than 20% of its workforce) as part of the restructuring process.

Landa announced that some of the shareholders who funded the company throughout the years intend to stop providing funding immediately. This created a “cash flow crisis” for Landa, prompting the company to undergo reorganization, implement cuts, and continue seeking funding.

Just yesterday, in response to these issues, Landa submitted “a request to the court for a stay of proceedings to give the company the necessary time to complete the process with the strategic parties.” This filing aims to give Landa more time to find investors.

In a statement announcing the filing, Landa noted its continued support and dedication to customers, stating, “the company is completing the reorganization process and continues to place special emphasis on the success of its customers and will continue to serve them fully and continuously.” It further noted that all customers have been contacted and will continue to be informed of updates as they arise.

Israeli business and economics publisher Calcalist reports the company is working with Deloitte on its strategic planning.

This is a developing story, and we will provide updates as they become available.