Isn't it similar to the US "chapter 11" (or the Dutch "surseance van betaling")?
Garmt said:
Sad.. Very Sad, Is This The End Of A Great English Company
- Thread starter nando
- Start date
is all going that way, just came back from the what-hifi, sound and vision, what a load of c**p, seriously, no interest what so ever about our enthusiasm or love for music and hi-fi, and we pay to go and see people displaying their product, depressed most of them, fancy tarted up girls with no information about the firm they re-present, or product knowlege, sad...nando
Here's your big opportunity - own a speaker company.
I agree that it is very sad that this much-appreciated company is under administration. I might pop into our recently-appointed local dealer to have a quick listen before they sell out of stock.
Anyway, I found this link which may interest you guys.
http://www.businessesforsale.com/ft/a399490.aspx
Anyone want to go into business making speakers?
I agree that it is very sad that this much-appreciated company is under administration. I might pop into our recently-appointed local dealer to have a quick listen before they sell out of stock.
Anyway, I found this link which may interest you guys.
http://www.businessesforsale.com/ft/a399490.aspx
Anyone want to go into business making speakers?
Dev
Moderator
Hey Joel, AT is not most people
.
.- Joined
- Jun 7, 2006
- Messages
- 710
- Reaction score
- 1
nando said:
I actually enjoyed the show somewhat. I didn't go for the hifi but rather the home cinema side of things. Arcam and Sim2 both had excellent setups and really superb staff that I enjoyed chatting with. It was a fun day out.
I don't really think What Hifi really caters towards what some would look for. I just enjoyed it for what it was: eye candy and a day out.
- Joined
- Jun 7, 2006
- Messages
- 710
- Reaction score
- 1
nando said:
That's great news if its true. A couple of well respected UK hifi companies have folded or have been sold off in recent years. The UK has always been one of *the* forces in hifi just as Denmark has some of the most respected drivers.
Sadly I have to agree that China and the East can completely outstrip virtually any hifi company in the world for labour and parts costs.
People like Aurum Cantus, Hi-Vi, Fountek etc. are bringing products to the market that previously would have cost twice the price or more for similar quality and performance. All of these are based in the East.
Doesn't look that promissing....
http://www.businessesforsale.com/ft/a399490.aspx
http://www.businessesforsale.com/ft/a399490.aspx
This is very sad indeed.
I understand Castle made cabinets for other people, but don't know who. Strange that if they were doing so much work for others, they have become penniless?
Administration, as I understand it means, that it has gone broke, not yet bankrupt.
Its an intermediary term meaning they are no longer in business, but not yet bankrupt, what happens normally is that a group of people, accountants, lawyers, etc., have been called in, as there is no cash, to pay off people, like suppliers, and consumers, obviously in order of priority, to try to get the best deal for as many people as possible, banks too at the top of the list, no doubt.
Obviously, it can happen to just about any company, and if it happens whilst you have placed your order, you could well end up losing your money, as its reallocated to pay off other debts.
Ditto with suppliers, they could have ordered millions worth in parts, all of which gets swallowed up. Its a business risk.
I could be wrong, but that's about the way it works.
Bankruptcy is an official term that comes later, if they can't get things sorted out.
Debts get written off. It I believe has to happen in a court of law, when everything is presented.
I had a pair of Avon's truly superb cabinet work, best I have ever seen, its a shame about this.
Let's hope they manage to get going again, a great and unique British company.
Its certainly going to cause the other companies problems in finding another cabinet maker, and to the quality and standard castle did.
The problem also with small companies, is that they sometimes run by people with little marketing knowledge, who don't bother or don't want to know about modern business methods, and just make a superb product, sadly, that isn't enough now adays, they need excellent business practise, too.
Anyone fancy buying them up?
I understand Castle made cabinets for other people, but don't know who. Strange that if they were doing so much work for others, they have become penniless?
Administration, as I understand it means, that it has gone broke, not yet bankrupt.
Its an intermediary term meaning they are no longer in business, but not yet bankrupt, what happens normally is that a group of people, accountants, lawyers, etc., have been called in, as there is no cash, to pay off people, like suppliers, and consumers, obviously in order of priority, to try to get the best deal for as many people as possible, banks too at the top of the list, no doubt.
Obviously, it can happen to just about any company, and if it happens whilst you have placed your order, you could well end up losing your money, as its reallocated to pay off other debts.
Ditto with suppliers, they could have ordered millions worth in parts, all of which gets swallowed up. Its a business risk.
I could be wrong, but that's about the way it works.
Bankruptcy is an official term that comes later, if they can't get things sorted out.
Debts get written off. It I believe has to happen in a court of law, when everything is presented.
I had a pair of Avon's truly superb cabinet work, best I have ever seen, its a shame about this.
Let's hope they manage to get going again, a great and unique British company.
Its certainly going to cause the other companies problems in finding another cabinet maker, and to the quality and standard castle did.
The problem also with small companies, is that they sometimes run by people with little marketing knowledge, who don't bother or don't want to know about modern business methods, and just make a superb product, sadly, that isn't enough now adays, they need excellent business practise, too.
Anyone fancy buying them up?
Last edited by a moderator:
"The problem also with small companies, is that they sometimes run by people with little marketing knowledge, who don't bother or don't want to know about modern business methods, and just make a superb product, sadly, that isn't enough now adays, they need excellent business practise, too."
Bit of a sweeping and incorrect assumption, I think.
The Board of Castle were extreemly competant marketeers and very well respected members of the HiFi Industry. Most certainly NOT entheusiasts with little or no knowledge of marketing. Castle are a victim of the current climate in our industry with Chinese imports arriving on these shores for a fraction of the UK manufactured price.
Just because a company manufacturers for others (who are also suffering the same conditions) does not guarantee success.
Bit of a sweeping and incorrect assumption, I think.
The Board of Castle were extreemly competant marketeers and very well respected members of the HiFi Industry. Most certainly NOT entheusiasts with little or no knowledge of marketing. Castle are a victim of the current climate in our industry with Chinese imports arriving on these shores for a fraction of the UK manufactured price.
Just because a company manufacturers for others (who are also suffering the same conditions) does not guarantee success.
amazingtrade
Mad Madchestoh fan
My guess is the brand will just be bought by the chineese. Can anybody see another MG Rover? 
nando said:
Of course I know where the problem lies but I'd sooner not air someone elses dirty laundry on a forum. I was making the point that it's too easy to generalise and assume that the managment didn't know what they were doing, whereas it's more probable that a weaker pound combined with adverse UK trading and employment conditions compared with those of other countries were the real culprits in this sorry case.
also reviewers , and media alike, how many magazines give more space in their reviews to british hi-fi, ? not to say that others should get a mention , by all means there are some wonderfull products made in other countries, i agree with your views mr. henley, and you are quite right, great answer.. regards nando.
Well, that has ruined my day!
My first post on here, not a good way to start really!
I have just bought some Castle Howards and already had their compact system. I really like them. I wondered why I had such a hard job tracking the Howards down, couldn't get them over here in New Zealand and ended up importing them. I guess it all makes sense now.
I guess consumers are the reason. If I can hunt out and buy British made stuff from this end of the world (and ya can't get much further away...and Fedex to these far flung places aint cheep), it's a sad thing that consumers in Britain can't be bothered to do the same!
Anyway, I certainly hope Castle can be resurrected.
My main hobby is woodwork. It has been sad to watch the gradual demise of the tool industry in the UK, Marple, Record and many others.
Record stuff is now made in China under the Irwin badge. It is not of the same quality (he says very politely). Still, if that is what Jo public want, and they don't mind buying another next year because the first one broke, well...
I used to own a Rover too!
Now I'm really depressed!
Cheers from NZ
Richard
My first post on here, not a good way to start really!
I have just bought some Castle Howards and already had their compact system. I really like them. I wondered why I had such a hard job tracking the Howards down, couldn't get them over here in New Zealand and ended up importing them. I guess it all makes sense now.
I guess consumers are the reason. If I can hunt out and buy British made stuff from this end of the world (and ya can't get much further away...and Fedex to these far flung places aint cheep), it's a sad thing that consumers in Britain can't be bothered to do the same!
Anyway, I certainly hope Castle can be resurrected.
My main hobby is woodwork. It has been sad to watch the gradual demise of the tool industry in the UK, Marple, Record and many others.
Record stuff is now made in China under the Irwin badge. It is not of the same quality (he says very politely). Still, if that is what Jo public want, and they don't mind buying another next year because the first one broke, well...
I used to own a Rover too!
Now I'm really depressed!
Cheers from NZ
Richard
