A DEAL FOR AUDIO RESEARCH AWAITS APPROVAL
Jim Austin
As Stereophile reported in our July issue, in late April Audio Research filed for “assignment for the benefit of creditors,” a form of receivership. “Assignment,” in its most intensive form, means signing over all assets to a third party for eventual distributon to creditors.
During the last few days of May, new court documents appeared online suggesting that ARC had been sold, pending only court approval. The selling price: $1,088,888.18, for all Audio Research assets except cash and bank accounts. Together with that cash and those accounts, the sale amount is expected to compensate all secured creditors in full and “possibly provide a modest distribution to unsecured creditors.”
It was a popular sale. According to the court documents, 17 parties expressed interest and 13 signed NDAs. Several bids were submitted, and one was selected: from Valerio Cora of Acora Acoustics, the Ontario, Canada–based maker of loudspeakers with cabinets made from granite and quartz. According to an online affidavit, the Acora bid was highest.
The deal closed on May 15, subject to court approval. The court-approval document appears online but without the judge’s signature. The judge is expected to sign off on the deal on June 20.
THERE’S A NEW MOON IN THE NORTHERN SKY
Rob Schryer
For the last 18 years, the top of the SimAudio Moon product range has been occupied by the Evolution Series; the launch of a new peak range is a very big deal. So when I got the invitation from Simaudio to take a prelaunch sneak peek at the company’s new North Collection, the successor to the Moon throne, I happily undertook the 30-minute countryside drive to Simaudio headquarters.
Inside the Simaudio building, the reception area was much as I remembered it. My host, Product
