Hifi House - Gone!

Easy Runnin
Easy Runnin Posts: 501
edited July 2014 in The Clubhouse
I patronized these guys a few times over the last several decades.

http://www.twice.com/news/retail/bank-forces-hifi-house-liquidate/45570

Anyone know the real story?
HT- Samsung PN50B860/Integra DTR 30.3/Rt55 Fronts
Rt35i Surrounds/Cs1000p Center/SVS BP1000 Sub
2CH - B&K MC-101 pre/B&K EX-442 amp/NAD 2400 amp
Polk SDA1C, Polk Monitor 7, New Large Advents and Polk RTA 8T
BR - Yamaha CR800/Polk monitor 5
Post edited by Easy Runnin on
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Comments

  • pitdogg2
    pitdogg2 Posts: 25,689
    edited July 2014
    Sounds like the bank called in the loan. They had evidently maybe refinanced a large loan/loans and the bank grew impatient. Like a JG Wentworth they want their money and they want it NOW!!! It actually is happening a lot now, even though some of these stores are doing very good its not good enough for the major banks...
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  • mantis
    mantis Posts: 17,201
    edited July 2014
    I do , they took on a huge job, severely under bid it and then self destructed. Also I heard from the grape vine a family member stole from them like millions of dollars. Not sure is any of that is even true but thats the Rumors going around. I'm sure you'll hear it from someone else soon.
    I'm a bit sad I knew a few people there and I'm no fan of any audio video store going out of business.
    Dan
    My personal quest is to save to world of bad audio, one thread at a time.
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  • Easy Runnin
    Easy Runnin Posts: 501
    edited July 2014
    I assume such a job would require bonding.

    I suspect that rumor might not be far from the truth, especially since the CFO retired within the last year.
    HT- Samsung PN50B860/Integra DTR 30.3/Rt55 Fronts
    Rt35i Surrounds/Cs1000p Center/SVS BP1000 Sub
    2CH - B&K MC-101 pre/B&K EX-442 amp/NAD 2400 amp
    Polk SDA1C, Polk Monitor 7, New Large Advents and Polk RTA 8T
    BR - Yamaha CR800/Polk monitor 5
    · Share on FacebookShare on Twitter