Goodbye Onkyo...

[Schu]

Onkyo files for bankruptcy

 

Osaka District Court Approves Onkyo Bankruptcy Petition for Two Subsidiaries.

 

What Remains

With the bankruptcy proceedings of ONS and OMC now in progress, what remains is Onkyo Home Entertainment Co. Ltd. As an earlier filing by the company states, Onkyo’s main business now “…is commission income from the transferee of the home AV business and contract management of affiliated companies.” This refers to commissions from the sales of Onkyo goods by VOXX’s Premium Audio Company (PAC).

Onkyo also retains a share of its state-of-the-art factory in Malaysia, which for some time now has been jointly owned with Sharp – and which is involved in the production of goods for PAC. This might sound like a good thing, but the filing ends with what sounds like an ominous statement to me.

[grindstone]

Sincerely feel for the employees involved in uncertainty and stressful times.  I don't have the energy to dig into holding companies and licensing to try to make sense of anything corporate anymore.  I think people dice-up rights to names they use to market things but it's all been long-past intelligible for 20 years to me.

 

https://www.klipsch.com/news/pac-response-to-onkyo-bankruptcy-filing?fbclid=IwAR2VIpJg2NiCSsafiWl89-e9VsddakwVwpU4xusC3IdOFFQ7JAV_obxUxYc

 

 

[jjptkd]

Onkyo Will Continue As A Major Audio Brand Thanks To Premium Audio Company And Sharp

 

https://www.forbes.com/sites/marksparrow/2022/05/16/onkyo-will-continue-as-a-major-audio-brand-thanks-to-premium-audio-company-and-sharp/?sh=1054306f3833

[artto]

A little more in-depth explanation (with Paul Jacobs of Klipsch at the helm) 

 

https://www.prnewswire.com/news-releases/premium-audio-company-llc-comments-on-onkyo-home-entertainment-bankruptcy-filing-301548155.html

 

BTW, bankruptcy doesn't necessarily mean the end of a company or brand. It's usually a form of "reorganization". However, the equity shareholders (stock) typically loose all as part of the reorganization as the company gets re-valued, and new stock issued (none of which goes to the "old" public shareholders)

[Travis In Austin]

Premium Audio Company, LLC, through a joint venture with Sharp Corporation acquired certain assets of the audio/video business of Onkyo Home Entertainment Corporation in September 2021 – this latest filing [the bankruptcy filing in Japan] has no impact on operations and is unrelated to the assets acquired.