Originally posted by rikkisbears:
Hi Starkeeper
Technics didn't go bankrupt. The parent company decided to close the music division down ( for whatever reason) fortunately
The Technics letter to their dealers, cited elsewhere in this BBS, mentioned that the reasons for closing the music business down were slow sales and poor profitability.
When the company shuts down operations for these reasons, that is not, strictly speaking, a bankrupcy (unless the creditors are unpaid), but it is going bust nonetheless.
I am happy for all the Technics users that they will be able to get spare parts from Panasonic for the foreseeable future. However, Technics going bust is a testament to the fact that a poor sales model can negate the technological advances of the product. I hope other music makers are learning their lesson from Technics.