Is it true Genesis is out of business?

I've had tremendous difficulty with them this past year trying to have a woofer amp repaired, then ended up having to buy a new one and wait months for that...then wiring problems, took months of frustration to resolve.....bottom line is the speakers sound FABULOUS, but the company must have been on the edge for awhile, they were quite unreliable. I hope Arnie gets another investor & Genesis is revived from the ashes....but as I understand it they are no longer in business.

It's a shame - they've made some killer products over the years. I recently bought a used pair of Vs that were shipped to me without the amp cables. Thank God I got Genesis to help me resolve the problem (this was in the last two months) before they went out. The speakers sound incredible...

I second the wish that some investors step forward and give us Genesis fans a happy ending.

Jim

If someone want's to give up on Genesis, I might be interested to purchase a mint pair of Genesis 350SE or Genesis 201.

Alex

yes, it has been just announced at "Stereophile" magazine that Genesis has filed for bankruptcy...the only good thing, according to the article, is that it appears that someone, the owner of "Perpetual Technologies" products as reported, is "99% sure that he'll be buying the brand name for Genesis Technologies and continuing to manufacture some of its available products and have them manufactured in China with the same components and parts as previously built"...
in my case,as i already own two and would like to purchase another one, it was specifically mentioned that he is planning on assembling the 928 subwoofers and selling them for a list price of $1.200, which would be substantially less than the existing list price of $1.700 each.
as far as i am concerned, the 928 are a "best-buy" product, with two servo-controlled 12" metal woofers firing at opposite directions, very fast and agile drivers and yet capable of reaching down to below 20 Hz with vanishing distortion while playing at very high levels...an awesome product...!!!

Any new informations about the future of Genesis? I am also a great fan of them because the quality of sound of their speakers is one of the best in the world - I tried much other speakers but none of them were as good. I own a system II.