Onkyo files bankruptcy in Japan

[gilfredpaul]

Japanese audio equipment maker Onkyo Home Entertainment Corp. has filed for bankruptcy, with some 3.1 billion yen (about $24 million) in total liabilities, the company announced on May 13.

The firm, based in the Osaka Prefecture city of Higashiosaka, filed for the commencement of bankruptcy proceedings with the Osaka District Court and its petition was accepted, the company said.

Besides its Onkyo brand, the firm also has the "Pioneer" brand under its umbrella. Due to a decline in earnings, Onkyo had been struggling with cash management.

Source : https://mainichi.jp/english/articles/20220514/p2a/00m/0na/002000c

 

[chandruybl]

Ho this i sad...

 

[efernand1]

It is sad indeed

Legendary Japanese hi-fi brand Onkyo files for bankruptcy

After nearly 80 years in the game

www.whathifi.com

Wondering with their latest models launched, how would support continue? This is something that needs to be checked by end users soon.

 

[Subbu68]

It is sad indeed

Legendary Japanese hi-fi brand Onkyo files for bankruptcy

After nearly 80 years in the game

www.whathifi.com

Wondering with their latest models launched, how would support continue? This is something that needs to be checked by end users soon.

Not sure. See the link. It appeared this morning in Facebook forum.

PAC Response to Onkyo Home Entertainment Bankruptcy Filing | Klipsch

Premium Audio Company Response to Onkyo Home Entertainment Bankruptcy Filing from CEO Paul Jacobs. Read more.

www.klipsch.com

 

[insane79]

Not sure. See the link. It appeared this morning in Facebook forum.

PAC Response to Onkyo Home Entertainment Bankruptcy Filing | Klipsch

Premium Audio Company Response to Onkyo Home Entertainment Bankruptcy Filing from CEO Paul Jacobs. Read more.

www.klipsch.com

Yes, there are a lot of misleading information, Onkyo was bought by VOXX & Sharp few months ago, Sharp is manufacturing their Avrs now in their Malaysian plant, hope to see some good engineering & built quality from Sharp as i use to love their products & are still a dominate force in Japan.

 

[grindstone]

I can't make sense of all the holding companies and licensing but only hope that these legendary concerns find a way. I feel for the employees during their times of uncertainty and stress. I did find a statement at klipsch for that piece of it.

PAC Response to Onkyo Home Entertainment Bankruptcy Filing | Klipsch

Premium Audio Company Response to Onkyo Home Entertainment Bankruptcy Filing from CEO Paul Jacobs. Read more.

www.klipsch.com

 

[vkalia]

If the Klipsch PR is to be believed (and there is no reason for it not to), then what has gotten bankrupt is the OG Onky company - however, this company no longer makes Onkyo receivers.

Onkyo receivers are made by PAC and are not affected by this.

 

[Phani24]

Onkyo is back and av receivers available.

 

[Phani24]

If the Klipsch PR is to be believed (and there is no reason for it not to), then what has gotten bankrupt is the OG Onky company - however, this company no longer makes Onkyo receivers.

Onkyo receivers are made by PAC and are not affected by this.

Yes.