Audio Research Corporation in Trouble - Statement by Audio Tuning Vertriebs GmbH

Audio Research Corporation has had to cope with many a difficult situation in recent years, and now the Minnesota-based company is once again facing turbulent waters, as recent reports show. It is not true that the high-end hi-fi company from Maple Grove had to file for bankruptcy, as has been rumoured recently, but it is clearly struggling with massive liquidity problems.

For example, the US media state that Audio Research Corporation “…filed paperwork notifying the Minnesota District Court of its entering into an Assignment for the Benefit of Creditors with Ligthhouse Management Group Inc. as the assignee.”

Ultimately, he said, this means putting oneself in the hands of an administrator who makes all operational and financial decisions, and who has to look after the interests of the creditors.

One could therefore best compare it to a settlement, which Audio Research Corporation is now facing.

Audio Tuning Vertriebs GmbH is confident

In Austria, Audio Research Corporation’s products have been serviced by Audio Tuning Vertriebs GmbH for years. The company has now issued a statement which is to be understood as an assessment of the current situation of Audio Research Corporation.

Audio Tuning Vertriebs GmbH expressly points out that it is very confident in view of the latest developments and is convinced that Audio Research Corporation’s ability to act is still guaranteed.

“It gives us great pleasure to announce that Dave Gordon continues to lead the company, and technology guru and sound wizard Warren Gehl also remains part of the Audio Research team.

As a clarification, may we announce on behalf of Audio Research:

• Audio Research is operating without restriction, the customer service department is staffed
• The service department repairs and ships products
• Production of new products and deliveries continue as usual
• The sales department continues to take orders
• Products are still being shipped

As a distributor, we look forward to exciting products and a long and successful future for Audio Research, which single-handedly revitalised the tube amplifier market 53 years ago.”

Statement from Audio Tuning Vertriebs GmbH

One thing should be clear now, and that is that the previous owner Trent Suggs is no longer in charge of the company and that new owners are being sought. In this respect, too, the company is confident that it will be able to report news as soon as possible.

Getting to the point

The reports that have been appearing in relevant forums for several days about the current situation of the high-end hi-fi manufacturer Audio Research Corporation did not exactly inspire confidence that the renowned company could actually continue to exist. In a statement, Audio Tuning Vertriebs GmbH now wants to convey exactly this confidence. In any case, it is stated that Audio Research Corporation is working without restrictions, and under the previous management, at least when it comes to the technical aspects.