Formenos Technologies, long considered one of Aman’s most successful technology and metalworking enterprises, has today announced that it will be entering administration.
The shock announcement comes just weeks after the company’s controversial CEO, Fëanáro Finwion, fled Aman for the Hither Lands, horrifying the continent by slaughtering innocent Teleri mariners and then abandoning the rest of the Noldor.
Formenos Technologies was notorious for its haphazard, unconventional management structure. While the company did have an appointed Board, as required under Noldorin company law, in practice Fëanáro ran Formenos Technologies as a one-man enterprise.
There is no doubt that Fëanáro’s talent made Formenos Technologies hugely successful, but his close control has turned out to be the company’s Achilles’ Heel: with him gone, Formenos Technologies lacks the leadership and ability to continue. Administration was almost a foregone conclusion, particularly since Fëanáro’s seven sons have also left.
With that in mind, it’s unlikely that the Board will be able to rescue Formenos Technologies as a going concern. However, prospects for paying off creditors are promising, since Fëanáro left behind a large stock of valuable machinery and goods, ranging from state-of-the-art armour to self-lighting lamps.
The Board may also be able to satisfy creditors with potentially valuable intellectual property. We suspect that Fëanáro’s recent designs for a flying machine will be popular; the machine holds great commercial promise if an engineer can be found to work on it. Unfortunately, most of Aman’s talented engineers left with the rest of the Noldor.