DMC Bankruptcy

Oh No! DMC - the makers of most of the thread Lana uses to Cross Stitch - is declaring bankruptcy. This article is translated from the French. This is the official press release from DMC on 24 April 2008, telling us they will "undertake significant restructuring in the near term". This apparently meant not paying April's wages to their workers in France. That is a surefire way to kill the business, combined with the news report confirming the bankruptcy.
DMC's press release from February announces a new "Strategy" which seems to have been too little too late. The press release mentioned the 2007 results would be published in March but the figures still haven't surfaced.
DMC's official website is saying nothing else at the moment.
DMC is a major supplier of threads for Cross stitching, either as individual skeins, packed in kits, or providing the source materials for custom thread dyers.
What does this mean for Cross stitchers (like Lana and her mum)?
Other thread suppliers should enjoy the opening market opportunities but they don't have the wide range of DMC. This means there will be a while before new colours are in place to replace the DMC colours.
Thread prices will probably go up. Less competition will mean thread makers have a chance of making better margins.
Ah well. Interesting times ahead!

Update:  DMC issued a declaration (in French) saying that they have a cash shortage caused by everyone else but them (the economy, currency, competition, etc) and have gone to the court and it's now in the courts hands.  A decision will be handed down in the first few days of May. At least that is my translation based on the Alta Vista Babelfish French to English translation.