DynaLite Lighting, the New Jersey-based company founded in 1970, has filed for Chapter 7 bankruptcy and will shut down operations. The company's CEO Peter Poremba revealed in the news in a statement on the DynaLite website, saying, 'It is with sincere regret and heavy heart that I announce that DynaLite...has closed its doors.'

Poremba cites the 'decline in the photography market' as the reason for shuttering the company. His full statement reads:

It is with sincere regret and a heavy heart that I announce that DynaLite Inc. has filed for chapter 7 bankruptcy and has closed its doors.

For over 50 years, DynaLite has been providing lighting solutions for photographers. We are extremely proud of what we have accomplished and the careers we have helped. Unfortunately, due to the current decline in the photography market, we have found it difficult to remain competitive.

I want to thank you all for the years of support. It has been a pleasure servicing the photographic community.

DynaLite sold a large variety of products during its time, including power packs, mono lights, heads, lighting kits, portable lights, light modifiers and more. The photographic lighting industry has seen a large uptick in companies offering affordable products over the years, no doubt making it harder for some businesses to stay afloat.

Though many products are still listed on the DynaLite website, it doesn't offer a way to directly purchase them. However, existing inventory remains available to buy from third-party retailers like Adorama.