The Future of Audio Research

Rondi is documented as being president of Krell from 12/1980 to present. Dan is on record saying he was forced out by a minority owner. I know there was a divorce in there somewhere. What I can't find is why Dan was out and Rondi remained as president.
 
audio.bill said:
Here's another update: Likely New Owner of Audio Research Corp Says Company to Stay in Minn - Strata-gee.com
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Thanks Bill. There is a lot of good news and information in that article. More facts and less speculation compared to a lot of previous articles.

Readers Digest condensed for the lazy but I recommend reading the entire article:

"Audio Research Will Remain in Minneapolis; ‘The Company has Not Changed’

"The biggest part of Audio Research is the people that make up Audio Research. It’s not the product. It’s not the 50 years in business. It’s the people that are actually here designing, making and building this stuff. To just move this and lose that labor force? You don’t have a company anymore…you just have a name." (about 23 employees).

"The Canadian CEO noted that although some of the court filings have suggested otherwise, Acora Acoustics is NOT purchasing Audio Research. In fact, it is Cora personally, with financial partners, that is purchasing Audio Research."

"However, after I questioned him further on these unnamed partners, all Cora would say is that they were not from private equity or venture capital. He also said they were also partnered with him in Acora Acoustics."
 
Mr Peabody said:
I wonder if staying in MN means keeping the same building, that's a lot of rent if empty space is abound. The article made it sound like they were.
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Staying in the same place does not mean the lease cost stays the same. Financial troubles are a good lever to negotiate a lower rate if the landlord wants to keep a tenant.
 
ARC will most likely have to negotiate a new lease. The old lease through the courts is null and void, the court could order that the new lease have the same terms as the existing lease, however the new ARC won't end up with a worse lease. Who knows what will be agreed to, not that its any of our business.
 
Hopefully all of the armchair "lawyers" can sit back and take a deep breath now and move onto more important things like figuring out if they have enough digital dingleberries in their signal chain.
 
From what I read about the court hearing. No. Secured creditors will be paid whole and non-secured creditors will receive some percentage of what they were owed. It does not say how much.

This of course does not prevent the new corporation to pay some of them outside of the court system.
 
puroagave said:
An ARC dealer told me he was named as a creditor but isn't owed anything. I think they just name everyone in the event they did have a claim.
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Yep, that’s what you do in bankruptcy. Name everyone possible that could come after you so you’re protected. I’ve been lending in commercial real estate for 20 years and have gotten a few of those notices even though the property I financed was directly not related to the company in the BK


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I reached out to ARC on Monday to see about ordering a new remote for my Preamp.
I received a response to day and yes the remote is available but the best part is that
the email was signed by Kalvin Dahl. I can only guess that maybe he has come back to ARC with the new ownership.

If this is the case it is a very good sign. If any of you have ever dealt with Kalvin in the past, you know exactly what I mean.
 
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