There is “something” going on with Audio Research. What exactly is not even clear to importer Reference Sounds, as the manufacturer itself reports nothing.
A photo of a letter in somewhat complex legal terms is circulating online, starring Audio Research. It mentions that the company has been placed in (under?) “receivership”. A term that raises many questions, including among Americans. Not entirely surprising, since it appears to be a legal construct of the state of Minnesota. Basically, it means – as we read here in an explanation by Part-Time Audiophile – that a sort of “cleaning company” has been appointed to clean up all financial mishaps. This is usually done prior to a sale. So it is serious enough for this receivership construction, but not (yet?) serious enough for bankruptcy. And mainly intended to avoid unpleasant surprises for a possible buyer, a neat solution actually!
Ambiguity trumps all
The fact that the company has been put into receivership mode means, first of all, that there is probably something wrong with Audio Research’s (financial) operations, for which a solution is now being sought. In addition, it can also be concluded that after this “cleanup” action, the company is just as likely to go on sale. Problem is, then, that Audio Research itself reports absolutely nothing, for now it is ‘business as usual’ there. And that makes estimating exactly what is going on very difficult for now.
Communication importer Reference Sounds
Audio Reserach importers are also unclear as to what exactly is wrong with the manufacturer. Importer Reference Sounds reports the following about it:
‘Dear friends of Audio Research,
As you may have read, Audio Research has been hit with some uncertainty. However, we are positive about the expected outcome of these recent developments and look forward to a bright future with Audio Research. In doing so, we will of course ensure the continuity of Audio Research during this transition phase and can report that;
– Customer service from Minnesota is active as usual
– The service department is busy repairing and shipping products
– Production is actively building new products and receiving parts
– The sales department takes orders
– Products are shipped
So, pending formal notification from Audio Research, we want to reassure fans and owners of this iconic brand that Audio Research is simply continuing to build the next decades of High End Audio products. Including men like Dave Gordon and Warren Gehl who are the heart and soul of this wonderful tube amplifier brand.
Team Reference Sounds’
So, in short: wait and see for everyone.