Japanese audio equipment maker Onkyo Home Entertainment Corp. has filed for bankruptcy, with some 3.1 billion yen (about $24 million) in total liabili
They file for bankruptcy..... Been a long long time...
Sad. My first AVR was a champagne gold color Onkyo, pre-HDMI era
VOXX International Corporation Completes The Acquisition Of The Audio/Video Business Of Onkyo Home Entertainment Corporation : VOXX InternationalThe Investor Relations website contains information about VOXX International's business for stockholders, potential investors, and financial analysts.investors.voxxintl.com
Seems like they sold their A/V business to Voxx and Sharp
The company sold its core home audiovisual business to Sharp and U.S.-based Voxx International and its earphones and headphones business to an investment fund, both in September. A joint venture between Sharp and Voxx is expected to continue using the Onkyo brand.
Wah now they own so many brands....I thought sound united owns onkyo and pioneer.
Why the article date is 2019? Old news?I thought sound united owns onkyo and pioneer.
I don't understand . If Sound United acquired Onkyo in 2019, wouldn't the parent company bail them out and tank the debts? I mean during the acquisition phase, Sound United would surely have known about Onkyo's losses and outstanding debts. Going ahead with the acquisition meant Sound United was prepared to undertake Onkyo's financial liabilities.
Does this mean Sound United willingly allowed Onkyo to declare bankruptcy and shut down ? Or did Sound United conclude that it was a bad buy and decided to cut Onkyo loose?