Hello, everyone. This is my first Audioshark post because I want to make everyone aware of what is going on at Audio Research. Some of you know me because I was hired by Bill Johnson in 1989. I left for a few years (Thiel), and returned to ARC in 1996.
Audio Research voluntarily agreed to assign its assets to a receiver, Lighthouse Management Group, Inc, on April 4th. I want you to understand what that means and how it affects our daily operations.
Audio Research has been operating since the assignment was filed almost four weeks ago, which was ten days before the AXPONA, show where our VP of Sales (Allan Haggar) worked with our dealer Quintessence Audio, which featured a statement system including Ref10, RefPhono10, and Ref160M MkII amps.
Little has changed outwardly. Audio Research remains staffed with Greg and Evan answering questions and assisting owners via email and on the phone; the service department continues repairing products; production is building new products and performing updates; our parts inventory has been good and we continue to receive parts shipments; our sales department continues to accept product orders, and our shipping department is shipping parts and product orders along with completed service units.
Trent Suggs was relieved of control of Audio Research and we have been working with individuals to purchase the company: we expect to have a new owner very soon. There will be continuity as production, engineering, purchasing, service, and critical personnel will remain working for Audio Research. Including Warren Gehl.
Operating a dedicated, high performance audio electronics manufacturer is more difficult than you might imagine, particularly given the increasing cost of doing business because of parts shortages, continuation engineering, shipping costs, inflation, and so many other things. Audio Research continues to build every product by hand, including hand-soldering components, creating their meter assemblies using local suppliers, and supporting products more than 50 years old. After each piece is completed, it is bench tested, burned in for 24-48 hours, bench tested again, and auditioned in a reference system to make sure it sounds right before being packed. And, every service piece is auditioned, too. It is an exhaustive process. If any of you are around Minneapolis, schedule an appointment to see how we do it.
