Bourgeois has filed for bankruptcy protection from its creditors, following a major new drop in the French company's revenues from its remaining activities in the areas of ophthalmic lenses and frames. Trading on the company's stock has been suspended. The discontinuation of the contact lens business had already led to a decline in Bourgois' turnover to €7.84 million in 2004 from €15.3 million in 2000. For the first six months of 2005, its sales fell by 31 percent to €3.5 million, generating a net loss of €480,000. For last six months, Bourgois' sales were down by a further 31 percent. Its net equity had declined to only €1.3 million by the end of 2004. The company is developing new offerings and optimizing the cost structure to remain afloat.