Delta Optik, a discount-oriented chain of optical stores in Switzerland, is in liquidation proceedings. First established in 1982 by Fred Waldenmeyer, who is no longer with the company, the chain closed most of its 17 stores in the last few months. Only 5 of them are still running under the Delta Optik banner, following their takeover by a management firm in Langenthal, D+M Management, but there are no plans to develop the chain further. Observers blame the competition from Fielmann and from Visilab, a chain of 60 stores that reportedly reached sales of 100 million Swiss francs (e68m-$68m) last year, but an official close to Delta indicates that there have been other causes for Delta's financial problems.