Oulu-based photography retailer Fotonordic files for bankruptcy

The Oulu-based photography and videography equipment retailer Fotonordic has filed for bankruptcy, citing a sharp decline in consumer demand, Finnish public broadcaster Yle reports. The company, which operated both online and through a physical store in Oulu, had previously sought corporate restructuring in late 2023.

Jaakko Hukanhauta, a specialist at Fotonordic, attributed the financial troubles to weakened consumer spending, linked to broader economic challenges such as rising inflation and interest rates in recent years. Supply chain disruptions have also periodically affected the availability of photography-related products.

The company’s revenue peaked during the pandemic, reaching €13 million in 2021, but fell to €3.8 million in 2024. Fotonordic has operated at a loss since 2022. Its core product range included cameras, lenses, and drones.

Fotonordic had previously maintained a brick-and-mortar store in Helsinki, which has since closed.