Audio Research in trouble

[egellings]

^^^ yeah, that's what I was thinking. The name may go the same way as many once-iconic brand names (e.g., Altec, Fisher, Sylvania, Admiral, Sansui*) and begin showing up on generic audio (and/or video) products on sale at one's neighborhood Walmart!

View attachment 285341
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* i.e., not just US brand names suffer this ignominious fate.

Audio Research bought by Lloyd's!

 

[mhardy6647]

Audio Research bought by Lloyd's!

I am rolling on the floor here...

In full disclosure, the abomination shown above is* actually a Yorx.

___________________
* I can only hope that the past tense, was, is more appropriately applicable. Kill it! Kill it with fire!

 

[fpitas]

^^^ yeah, that's what I was thinking. The name may go the same way as many once-iconic brand names (e.g., Altec, Fisher, Sylvania, Admiral, Sansui*) and begin showing up on generic audio (and/or video) products on sale at one's neighborhood Walmart!

View attachment 285341
______________
* i.e., not just US brand names suffer this ignominious fate.

I have had people puzzled that Altec made my horns. They thought Altec only made worthless plastic computer speakers

 

[phoenixdogfan]

Really unfortunate. Perhaps the buying public tired of their silver faceplates which, as we all know, imparted a whitish coloration to their sound, while their arch rival Conrad Johnson with their colored faceplates indeed had that rich golden glowing sound, albeit with more coloration than AR's astringent and bracing transparency.

 

[FrantzM]

Really unfortunate. Perhaps the buying public tired of their silver faceplates which, as we all know, imparted a whitish coloration to their sound, while their arch rival Conrad Johnson with their colored faceplates indeed had that that rich golden glowing sound, albeit with more coloration than AR's astringent and bracing transparency.

Smileys?
Please.

Peace.

 

[OShag]

Rumor has it the judge overseeing proceedings is an ASR fan and does not like tubes ; )

ARC’s problem is they could not adapt fast enough to a changing market. The ‘ultra high end’ ie The Money-bags Club is small. Competition is fierce to win those big-wallet customer’s hearts with bling chassis covering ‘same old’ circuit tech. ARC stuff is just not pretty. It does sound very good, some of it exceptionally so. But not at theridiculous prices they expect regular middle class folk to afford.

 

[notsodeadlizard]

At one time they designed wonderful solid-state amplifiers based on bright ideas, the D-100 is still an excellent device, and given that it has no global feedback at all...
It's a pity. With each departure of companies with such a history, the picture becomes bleaker and bleaker.

 

[Ron Texas]

Non-event for me.

 

[egellings]

I am rolling on the floor here...


View attachment 293819
In full disclosure, the abomination shown above is* actually a Yorx.

___________________
* I can only hope that the past tense, was, is more appropriately applicable. Kill it! Kill it with fire!

Hey! It's got everything on it!

 

[Daverich4]

The sale is complete. Hope it works out for them, I’m a fan.

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[anmpr1]

Really unfortunate. Perhaps the buying public tired of their silver faceplates which, as we all know, imparted a whitish coloration to their sound, while their arch rival Conrad Johnson with their colored faceplates indeed had that rich golden glowing sound, albeit with more coloration than AR's astringent and bracing transparency.

CJ evidently bought up the assets of Counterpoint, when that operation went belly up. Counterpoint was a mostly tube base gear manufacturer that moved into solid state (FET) gear after digits became a thing. Why did CJ buy the name? Who knows? Perhaps they didn't want a possible competitor.

I owned Counterpoint tube gear. The preamps were probably as good as whatever David Hafler was selling, year earlier. But it looked like Mark Levinson stuff, and Dyna couldn't compete on that visual level.

For their part, ARC attempted an entry into solid state-- the 'analog module' shtick, but no one was interested in that. 40 or 50 years on, try getting your analog module gear serviced. Not like replacing a bad tube, I'll tell you that, for sure.

William Johnson began by offering Dyna mods. 60 years after, Dynakits are still supported via third parties. Dynaco is, to my mind, the ultimate in audio. It's never obsolete.

My guess is that Dave and Bill are, right now, having a cool one (or two), amazed that this stuff is a concern to anyone.

 

[egellings]

CJ evidently bought up the assets of Counterpoint, when that operation went belly up. Counterpoint was a mostly tube base gear manufacturer that moved into solid state (FET) gear after digits became a thing. Why did CJ buy the name? Who knows? Perhaps they didn't want a possible competitor.

I owned Counterpoint tube gear. The preamps were probably as good as whatever David Hafler was selling, year earlier. But it looked like Mark Levinson stuff, and Dyna couldn't compete on that visual level.

For their part, ARC attempted an entry into solid state-- the 'analog module' shtick, but no one was interested in that. 40 or 50 years on, try getting your analog module gear serviced. Not like replacing a bad tube, I'll tell you that, for sure.

William Johnson began by offering Dyna mods. 60 years after, Dynakits are still supported via third parties. Dynaco is, to my mind, the ultimate in audio. It's never obsolete.

My guess is that Dave and Bill are, right now, having a cool one (or two), amazed that this stuff is a concern to anyone.

I'll bet that the Dynaco ST-70 is the most modified amplifier in the world, ever.

 

[ahofer]

I read the article, but didn’t see where the details of the liquidation were specified. Wait, the company wasn’t liquidated. For the time being, it’s a going concern, so in addition to the cash price, the new owner must have assumed responsibility for the debt. The cash price would then determine what the seller is entitled to, before receivership costs. Again, seller can’t collect on what the debtors have legal claim to. It’s the whole point of this process.

Assets can be sold and run as a going concern. There are infinite assignment and sale possibilities if the stakeholders agree.

 

[MattHooper]

Really unfortunate. Perhaps the buying public tired of their silver faceplates which, as we all know, imparted a whitish coloration to their sound, while their arch rival Conrad Johnson with their colored faceplates indeed had that rich golden glowing sound, albeit with more coloration than AR's astringent and bracing transparency.

Perfect. Love it.

(Even as a CJ owner who does indeed enjoy the champagne-gold faceplates).

 

[anmpr1]

Perfect. Love it.

(Even as a CJ owner who does indeed enjoy the champagne-gold faceplates).

Champagne gold was an interesting aesthetic. For the times, and even today.

In Japan, I think various manufacturers picked up on it. Wasn't that an Accuphase and Marantz thing?

The first Dyna PAM preamp was gold faced, Another iteration was the gear from Fisher, in the '50s and '60s..

 

[Tom C]

Assets can be sold and run as a going concern. There are infinite assignment and sale possibilities if the stakeholders agree.

Well, right at the moment, they continue to operate, so it seems the interested parties have reached agreements. But immediately prior to this time, when the prior owner was seeking to sell, and potential buyers were sought but not yet determined, and no sale price had yet been agreed upon, and it was uncertain that a willing buyer could be found, presumably the stakeholders could not agree. Otherwise, why would the company have gone into receivership?

 

[ahofer]

Well, right at the moment, they continue to operate, so it seems the interested parties have reached agreements. But immediately prior to this time, when the prior owner was seeking to sell, and potential buyers were sought but not yet determined, and no sale price had yet been agreed upon, and it was uncertain that a willing buyer could be found, presumably the stakeholders could not agree. Otherwise, why would the company have gone into receivership?

I don’t understand your point. I’m saying that a ”going concern” can be conveyed in an asset sale, so your assumption that the company would still carry the debt as a “going concern” is incorrect. The stakeholders may have created a non-bankruptcy or pre-approved restructuring. In fact, that’s what it looks like, with the proceeds of the asset sale likely funding the company to which the debt was conveyed, in (partial?) satisfaction of that debt. That’s what happens when the enterprise value is less than the outstanding debt.

 

[Tom C]

I don’t understand your point. I’m saying that a ”going concern” can be conveyed in an asset sale, so your assumption that the company would still carry the debt as a “going concern” is incorrect. The stakeholders may have created a non-bankruptcy or pre-approved restructuring. In fact, that’s what it looks like, with the proceeds of the asset sale likely funding the company to which the debt was conveyed, in (partial?) satisfaction of that debt. That’s what happens when the enterprise value is less than the outstanding debt.

Merely that $1,000,000 does seem like a low sales price, but that the new buyer may not have gotten all assets of the company free and clear for that price.

 

[SIY]

Merely that $1,000,000 does seem like a low sales price, but that the new buyer may not have gotten all assets of the company free and clear for that price.

Likely negative EBIT, declining revenues?