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Onkyo files for bankruptcy


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2 hours ago, Wilson71 said:

It's not as bad as it sounds, it's only a couple of their subsidiary companies.

 

Here:

 

https://www.strata-gee.com/onkyo-announces-two-subsidiaries-will-cease-operations-file-for-bankruptcy/

 

If you read this, it is not as bad as what the title in this thread suggests.  If true, there should be not change to Onkyo, Pioneer and Integra branded goods...

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57 minutes ago, Snoopy8 said:

If you read this, it is not as bad as what the title in this thread suggests.  If true, there should be not change to Onkyo, Pioneer and Integra branded goods...

An update to that article

https://www.strata-gee.com/osaka-district-court-approves-onkyo-bankruptcy-petition-for-two-subsidiaries/

 

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Yes not quite as it seems. Onkyo AV (really, the only division that concerns us) was already bailed out by Voxx International (Klipsch) and has resumed design, manufacturing and production. It's just the scraps that are being divvied up, sold off, or dissolved now.

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Sounds like a way of offloading debt to me. Take a couple of subsidiaries that aren't performing well, or are unimportant to the brand, move as much debt as you can on them, then let them go under taking said debt with them. 

 

It's just a part of business 101.

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