Audio Research in Receivership.

Papers were filed on Friday. Some say AR’s doors are closed for business.

aberyclark04-30-2023 4:23am

cleeds Details Discussions Posts This discussion Message User 5,651 posts 04-30-2023 at 06:49pm Copy Comment URL Report Comment Edit Delete daveyf Hopefully, this is a Chapter 11 ( re-organization) vs. Chapter 7 ( full liquidation and closure) ... It is neither right now. What the company seeks is receivership, which could mean liquidation, but it could also mean a structured sale is in the works. There’s no way to tell without inside information. It’s possible the court or creditors could oppose the receivership, which could force ARC into bankruptcy.
cleeds Details Discussions Posts This discussion Message User 5,651 posts 05-07-2023 at 11:57am Copy Comment URL Report Comment Edit Delete co93 ... receivership is an action taken by the creditors, not ARC ... That is mistaken. In fact, based on the court filings, it may have been a surprise to the bank that this filing was made. (Although, given Suggs' delinquency, it shouldn't have been a total surprise.) The bank’s filings suggest its claim is with Suggs and his private company, not ARC.