Oct 2016

Lensworx in liquidation
Auckland-based optical lens manufacturing
laboratory Lensworx was placed into
liquidation on 23 August.
Managing director Albie Hanson emailed creditors
and customers on 26 August explaining the company
had been dealing with shareholder issues for the
past two years, which had affected the company’s
ability to operate. “It was restricting our ability to
gain appropriate financial and banking services as
would be expected for operating a company of our
size on a daily basis. The frustration this has been
causing has made it extremely difficult to expand
the business and its NZ Kodak Lens and Safety
eyewear lines. As this problem has been ongoing
without satisfactory resolution today it was decided
to voluntary liquidate Lensworx as it is becoming
too difficult and personally very costly to manage
the company properly.”
According to Companies Office records’ the
current shareholders of Lensworx are Hanson, with
a fifth share, stock breeder and feed supplier Karyn
Maddren, also with a fifth, and Crystal Sand Limited,
owned by Christopher James Taylor of Kohimarama,
who owns three fifths of the company.
The news came as a surprise given that Lensworx
had begun the rollout of its long-anticipated Kodak
Lens Vision Centres (KLVCs) retail programme for
independent optometrists earlier this year.
First mooted in February 2015, the programme
offered independent optometrists the opportunity
to partner with Kodak and use the brand, which
is owned under license by Californian company
Signet Armorlite. Under the programme,
independent optometrists can choose to
incorporate the Kodak brand into their practices
as a concession, or whole-of-premises branding,
(effectively a franchise), without the associated
fees. Practices commit to a level of Kodak lens
sales in return for marketing and branding support
and use of the Kodak name. In May, four practices
had agreed to join the programme, with six more
expected to sign up by the end of June.
Talking to NZ Optics after announcing the
liquidation, Hanson remained committed to the
Kodak programme. “Even though Lensworx has
chosen to liquidate, we feel the outcome will
be better for Signet Armorlite and the Kodak
branding for independent optometrists. Lensworx
management still feels this is the best model
internationally for supporting independent practices
with the world leading Kodak brand and will do all it
can to see this continues to be available to the New
Metabolites and AMD?
New findings suggest that oxidative stress stemming from a
growing accumulation of visual cycle adducts may play an
important role in the pathogenesis of AMD, said Dr Janet
Sparrow, Anthony Donn professor of ophthalmic science at Columbia
University, New York. “There are a number of genes that have
been implicated in AMD and there are likely multiple modifiable
environmental factors at work,” she continued in an article in
Ophthalmology Times. Non-genetic risk factors include smoking,
diet and exposure to sunlight. The protective effects of smoking
cessation, increased intake of antioxidants, and sunglasses all play
roles in reducing oxidative stress in the visual system, particularly in
RPEs. All cells are subject to oxidative stress, she said, but the visual
system appears to be particularly vulnerable. ▀
Jeremy Ang and Chien Chiang from Signet Armorlite flank Albie Hanson
from Lensworx in happier times earlier this year
Zealand independent practitioner.”
However, given no buyer stepped forward in the
limited time allotted by the liquidators Meltzer
Mason, Signet Armorlite has closed its account
with Lensworx and transferred all existing and
ongoing Kodak work and commitments to
Independent Lens Specialists (ILS) in Christchurch.
The move was a “natural fit”, said Chien Chiang,
managing director of Signet Armorlite AMERA,
based in Singapore, as ILS distributed Kodak lenses
in the South Island and the two organisations
have had a long-standing relationship. “We do not
wish for Kodak Lens customers to be left in limbo.
Therefore, for the time being, all of the customers
and jobs, which were going to Lensworx are being
routed through ILS in Christchurch.”
Chiang also reiterated his company’s
commitment to rolling out the Kodak brand and
supporting independent optometrists in New
Zealand. “We would also like to communicate
to the optical trade that we are committed to
promoting and supporting the brand in the region.
The demise of Lensworx was not due to the lack of
support for Kodak Lens from the trade/consumer
nor due to a lack of support from Signet’s side. As
our retail program was off to a promising start, our
ambition will continue as planned.”
Glenn Bolton, ILS director, said both he and
business partner John Clemence were very
surprised and saddened by the news, especially
for Lensworx’s loyal staff. “We have obviously
worked closely over the years with the Kodak
Lens brand and have continued this supply to
Lensworx’s customers.”
Lensworx was formed in
2005 as a full wholesaler and
specialist prescription optical lens
manufacturing laboratory. It gained
the Kodak Lens agency in 2007
and was certified for processing
prescription safety eyewear.
According to the liquidators’
report, at the time of liquidation
the company owed $33,541 to
secured creditors, $496,000 to
unsecured trade creditors and
$718,293 to an unsecured “related
party”. With no buyer on the
horizon, the remaining assets of
the company are expected to be
sold by public auction in October.
Disclosure: NZ Optics is a
creditor of Lensworx ▀
Earthquake shakes East Coast
On 2 September at 4.37am, a magnitude
7.1 earthquake struck off the coast of
the eastern cape of the North Island.
Optometrist Steve Stenersen in Gisborne said he
felt they were lucky this time.
“Although the earthquake was quite large and
sent us all out of bed diving to the floor, it was not
too bad here. It was more rolling, although still
violent, as opposed to the sudden jolts which cause
more damage. We only had the odd thing fall over,
no breakages.”
Other locals also described it as a strong, rolling
quake. It was located 130km north-east of Te
Araroa, was 55kms deep and lasted for around
30 seconds. Locals reported some minor damage
including toppling chimney’s, artwork falling
from walls and products dislodged from shelves
in local businesses. A Tsunami alert was issued
afterwards, and with many local schools and
businesses closed, residents of coastal towns
such as East Cape, Hicks Bay and Tologa Bay
headed for higher ground.
Stenersen said he was thankful the effects
weren’t worse as the magnitude 6.7 Gisborne
earthquake of 2007 caused major disruption
and cost him around $150,000 in repair bills.
“We’ve learned a lot about insurance since
then,” he said.
Aftershocks have continued in the cape area,
with Geonet predicting they could last for up to
two years. With the earthquake having changed
the stresses in the Hikurangi Subduction Zone,
Geonet experts said there is a small chance of a
very major event occurring, similar to the Tohoku
earthqauke in Japan in 2011, however, they added
this is very unlikely. ▀
Highs, lows and dry eye
This month has been a
roller coaster of highs and
lows. The biggest high
was completing our second,
even better, Dry Eye Special
Feature (see pages 9-19). The
wonderful A/Prof Jennifer
Craig, NZ’s international dry eye
superstar, helped us to decide,
curate and review the material
for this feature which, I’m sure
you will agree, covers a wealth
of information on dry eye from
the latest research here and
across the ditch to views on the
latest technology and thinking
in areas as diverse as hormones
and bacteria to contact lenses
and triage. There’s even a
little tip for making your own
tearscope with a ping pong ball! We can’t thank
all the DryEye contributors enough, both for the
time they’ve taken to put their articles together,
and for their enthusiasm when asked to share
their knowledge and experiences with the wider
industry.
Lows include the sad news about the passing
of Emeritus Professor Leon Frank Garner and
Precision Contact Lens founder Johan Steeman,
each ably remembered by those who knew
them well, A/Prof Rob Jacobs (p4) and Johan’s
daughter Kathryn (p25) respectively. Then there
was the earthquake in Gisborne – glad to hear
it was just the crockery that got hurt! And the
liquidation of Lensworx, whose creditor list
sadly reads like a who’s who of the company
side of the industry (see news story, this page).
In another sort of passing, we say goodbye to
columnist Alan Saks who has decided to focus
on other projects. We wish him well, and are in
the process of introducing a new column that
will most definitely get you talking!
Other highs include the Eye Institute’s
entertaining and educating evening (check out
the smiling faces on p23) and Specsavers annual
EDITORIAL
clinical conference (SSC5), which was supported
by a number of New Zealanders, including many
who now live in Australia but were delighted to
shout about their Kiwiness for NZ Optics while
we were in Brisbane. SSC5 was also packed
full of useful and practical information, the
highlights of which we’ve distilled for you on
p20-21.
And finally, by the time you read this, I’ll be in
Paris for my first Silmo fair! Yes, it is fair to say
I am a tad excited! Silmo will be covered in our
November issue, along with our Summer and
Sun special, and an ever so amusing take on
the bad side of homemade scleral lenses by our
wonderful speciality CL columnist Alex Petty. So
don’t miss it; it’s going to be another bumper
issue!
Au revoir
Lesley Springall, publisher, NZ Optics
Charity Fundraiser A day at the Ellerslie Races
Saturday 18 th February 2017
Did you know that 1 in 7 people over 50 will get Macular Degeneration? For thousands there
is a treatment that can stop its progression. MDNZ is committed to slowing this epidemic.
Please support this fundraising event and help us save the sight of thousands of New
Zealanders. Funds raised will support awareness campaigns, education, information and
support for those with Macular Degeneration, their families and carers.
Donate an
auction item
We welcome any
item for the live or
silent auction.
Philip Walsh, Damien Koppens and our own Jai Breitnauer at SCC5 in Brisbane
How you can help:
Purchase
a table
Invite 10 guests to be at
your personal table for
a fabulous day including
a gourmet buffet lunch,
celebrity guests, auctions,
raffles, horse racing at its
best and more!
Sponsor
a race
Naming rights to a race
on the day comes with
wide brand exposure
and VIP opportunities.
For more information please contact: Alice McKinley on events@mdnz.org.nz or phone 027 634 0495
October 2016
NEW ZEALAND OPTICS
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