The Future of Audio Research

Thanks for the update Dave!

Great to know that there is activity behind the scenes to support your customers and keep the company alive. I just hope that the remaining team has the opportunity to keep the company moving forward.

Wish you and the rest of the team the best. I realize it’s a bit difficult to share information as ARC is reorganizing and, hopefully, is able to find a good buyer. However; please make sure customers are kept informed.

Best to you and the ARC team!
 
Is it true that some of the people on the creditors list is there in error and not every one on the list is owed money?
Commish said:
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.
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After 25 years of spectral solid state, my interest was an AR integrated. The dealer had reservations about the purchase. The new management was from sales, and didn’t have a track record in management. That was two years ago
 
crwilli said:
I don’t know but I agree with a thought I read elsewhere - the list looks more a data dump from their ERP system.
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Yes, it looks like an accounts payable table, which would be anyone who was ever set up to be paid anything by the company. Very different ...

I wish them well, iconic brand that it is, and I've owned several nice pieces of theirs over the years.
 
TomS said:
Yes, it looks like an accounts payable table, which would be anyone who was ever set up to be paid anything by the company. Very different ...

I wish them well, iconic brand that it is, and I've owned several nice pieces of theirs over the years.
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It may be a Vendors List as opposed to an Accounts Payable table. The Vendors list shows all vendors (old and current); whereas the Accounts Payable list would only show folks that are owed money at the time the list is printed.
 
Obviously only guessing, but . . . .

Typically a first filing will put everybody they can on the list to make sure everybody has notice that something is going on. Ultimately, under a reorganization debts are paid - even if it might take a while to do so.

Who knows, maybe the reason for the reorganization has to do with the business office/accounting being so disorganized that they don't even know what they owe. I was involved with a luxury apartment building that this was the case. When we went in, we had no clue what leases the residents even had. The apartments were making money but was so poorly run business wise that nobody knew it.
 
Well damn - my wishful thoughts were wrong. Looks like bankruptcy is right around the corner. Hopefully this mystery investor decides ARC is worth saving.
 
My opinion is that there will be a buyer, how it al works out over time is another story.

Lets hope the next owner knows how to run an business.
 
still-one said:
My opinion is that there will be a buyer, how it al works out over time is another story.

Lets hope the next owner knows how to run an business.
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Mike,

Haven't you always wanted to own a top tier audio electronics company? Here is your chance to re-engineer ARC to be the perfect companion to Clarisys.;):hide:
 
Dizzie said:
Mike,

Haven't you always wanted to own a top tier audio electronics company? Here is your chance to re-engineer ARC to be the perfect companion to Clarisys.;):hide:
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Yes! But not one riddled with debt and liabilities that builds tube equipment solely based on Russian tubes that someone else controls the supply of.

I have a lot to say on this topic, but I’m biting my tongue.


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