Proposed Sale of Vivitar Falls Through

Vivitar Corp.’s parent company is still looking for a buyer for the Chatsworth-based camera maker now that the proposed sale of Vivitar to Concord Camera Corp. has collapsed.

Gestetner Holdings PLC of Britain, which purchased Vivitar and the Australian-based Hanimex photographic-products business in early 1990, had planned to sell them to Concord for $51 million in cash and Concord stock.

But Concord, an Avenel, N.J.-based concern that is saddled with financial problems, could not come up with the cash within a time limit set by its agreement with Gestetner. So the deal was scrubbed.

Gestetner, which mainly markets office-automation gear, said it would keep looking for a buyer and was also still discussing a possible revised deal with Concord, which makes small, inexpensive pocket cameras.

Vivitar, with annual sales of about $100 million, also makes “point-and-shoot” compact 35-millimeter cameras, along with lenses, flashes and other accessories for competing camera brands.

Vivitar executives were attending a trade show in Atlanta and were not available for comment.