WHOA! M&K Out Of Business

[David Meek]

I just read an article at a magazine's website telling how speaker manufacturere M&K (Miller and Kreisel) has - as of last week - closed its doors and filed Chapter 7 bankruptcy proceedings. There's a lot of on-going litigation, but it sounds like counterfitters out of China have done a lot of damage to them.

That's just wrong. :M

[Chris D]

Yeah, this is a very disappointing story. You can go direct to M&K's website to read what they say about it, and we've also been discussing it in the M&K thread over in the "manufaturer's threads" areas of HTGuide.

[spyboy]

In spite of the closing of M&K, I bought an M&K S150 AC. New in the box. Ordered a nice metal stand for it. Should sound really good with the stand and my Denon 5803A. Can't wait till the 5803A is ready in about 2 weeks.

[RebelMan]

I have wondered about M&K's solvency since a couple years ago when I visited the local dealer and asked what happened? The salesman stated they were having product delivery issues and they terminated their agreement with them. It was a sobering moment for me as I was a previous M&K subwoofer owner. They have had a long run and it's sad to see that it has come to this.

[Lex]

dang, I really hate to hear that, they made some fine products...

[aud19]

Wow!

[gianni]

A sad ending indeed. I know this is a long shot, but perhaps someone will step in and revive the company letting the old guard design the goods with some new blood running the business end.....if this can be done without sacrificing quality.

[Club1820]

I love my M&K Sub!

Was thinking of buying a second. :cry:

[Lex]

Well, I don't know my chapters real well, I am not sure if chapter 7 is a chance to reorg their finances, or the final chapter that dictates liquidation of all assets... Which is it? I am thinking Chapter 13 is the reorg, and chapter 7 means it's all over. But I may be wrong.

edit, I googled, and in fact, chapter 7 means a bankruptcy trustee does indeed liquidate all assets, distribute proceeds to creditors. Apparently the fat lady has sung.

[John Holmes]

Man, this was really bad news to me. But, I'm not really all that shocked. Though I did not know the extent of their internal issues, for too long have they had troubles filling orders. No way is 4-6 months (sometimes longer) acceptable in getting your customer's product to them.

On the bright side, maybe I'll find a great deal on some s-150's now.

[Chris D]

On the bright side, maybe I'll find a great deal on some s-150's now.

... or get stuck with a set that has the latest driver problems they've been having, without any warranty to cover it. Hopefully not! Hopefully it's the first case.

[John Holmes]

... or get stuck with a set that has the latest driver problems they've been having, without any warranty to cover it. Hopefully not! Hopefully it's the first case.

Nah, that will not be a problem here. I would only buy them from my dealer. Same place that I bought my B&K Ref 50. So, they would take care of me.
Which is the best part about establishing a good relationship with a brick & mortor store.

[DrJRapp]

Well, I don't know my chapters real well, I am not sure if chapter 7 is a chance to reorg their finances, or the final chapter that dictates liquidation of all assets... Which is it? I am thinking Chapter 13 is the reorg, and chapter 7 means it's all over. But I may be wrong.

edit, I googled, and in fact, chapter 7 means a bankruptcy trustee does indeed liquidate all assets, distribute proceeds to creditors. Apparently the fat lady has sung.

Ch 13 is pimarily for individuals to "cram down" a mortgage or other debt.

Chapter 11 offers protection from creditors while a company is reorganized and/or refinanced. Many companies are acquired or receive new financing and emerge from the protection of the courts to try again. Companys who's technology or intellectual rights have a lot of potential value are good candidates for Ch 11.

Chapter 7 is to sell off all assets and discharge all obligations (insolvency)...this is the end of the line.

[Lex]

That's pretty much what I said about Chapter 7 Jerry. But your Chap 11 and 13 info was added info, not relevent here except to say what it's not, but related...

[gianni]

All I can say is....

[Lex]

I only bought one M & K product ever, a MX125 sub. But it is an awesome subwoofer. I always felt I could trust the M & K brand myself, if I did have opportunity to buy. Never the cheapest, but always good reliable quality, that's what hurts our industry when we see good players like that go down.