In the latest update by Dave Gordon, Audio Research Managing Director of Sales and Brand Ambassador, in a post 12 hours ago on the Fans of Audio Research Corporation Facebook page, he said: “Audio Research has new ownership, which will be formally announced on Monday, May 15.”
There have been some interested parties mentioned in Facebook posts, but it would be better not to name them and wait for the official announcement on Monday.
Dave Gordon also mentioned that this post by trackingangle.com (https://trackingangle.com/features/audio-research-corporation-saved-restructured-company-remains-in-maple-grove-mn-at-least-for-now?fbclid=IwAR2kQuXz56pomv2QAt75PmWIRPOtRz6gQCD06q0lKVzNf2dw4Fp658x0WGg) would give a preview of what happened.
“While this may sound unusual it is not. In order to protect all parties, the ‘old’ Audio Research Corporation had to be dissolved and a new one formed.
“The new owners have examined all aspects of the old company’s operations and have determined that it can successfully operate a new company under new management and with a new infusion of capital,” trackingangle.com said.
Rumours about the fate of Audio Research starting swirling around in the industry after it was revealed that on April 4, Audio Research in the State of Minnesota District Court, County of Hennepin Fourth Judicial District, voluntarily agreed to assign its assets to a receiver, Lighthouse Management Group Inc. This move is an alternative to a bankruptcy filing in federal bankruptcy court.