Based on that Audiorevolution article, it sounds like they are moving the manufacturing, not shutting down the lines. Any dip in resale values of Revel speakers might be temporary.
Art
Art
Madrigal Mark Levinson out of business.
This sucks. Dunlavy now Madrigal.
Madrigal shuts doors
By JIM HICKEY , Middletown Press Staff 07/02/2003
MIDDLETOWN -- Madrigal Audio Laboratories, a producer of high-end audio and video equipment that has been based in this city for several years, announced Tuesday that it will be going out of business.
A spokesman for Madrigal declined to comment on Tuesday, stating that there was nobody at the South Main Street offices who could handle media inquiries.
However, the city has received a letter indicating that the company will be shutting down for good on Aug. 30, according to Mayor Domenique Thornton.
A source close to Madrigal, who asked not to be identified, told The Press that employees showed up for work Tuesday morning as usual, and were told that they had been laid off.
They were then toldto collect their belongings and leave the building, according to the source.
Madrigal manufactures high-performance audio and video components under the brands: Audioaccess, Mark Levinson, Proceed, Madrigal, Imaging, and Revel.
The company is a subsidiary of Harman International Industries, a manufacturer of high-quality, high-fidelity audio and video products based our of Bedford, Mass.
According to the company’s Web site, Harman International was formed in 2002, and manufacturers products for the consumer and professional market. The company’s stock is traded on the New York stock exchange.
A public relations official for Harman declined to return a phone message on Tuesday.
A receptionist at Harman’s Bedford, Mass., office said that several of the company’s department heads "were in meetings" on Tuesday, and would not be able to comment on Madrigal closing.
Middlesex County Chamber of Commerce President Larry McHugh said the chamber been told earlier this week that Madrigal would be shutting down. He also said that he had heard employees had been laid off.
Although Madrigal or Harman were unable to confirm the total number of employees, McHugh estimated that the company employed around 100 workers.
"It’s a real blow. We’re not talking about a company that employees four or five people here. They employ a substantial number of residents from Middlesex County," McHugh said.
McHugh said he was surprised that officials for Madrigal or Harman hadn’t given more notice that the company would be closing down, especially since Madrigal is a member of the chamber.
"Usually we receive more notice when a company plans on shutting down or leaving. It allows us to work to lessen the blow on the employees, and the community," said McHugh.
The mayor said she had already contacted the state Department of Labor about establishing a crisis career center for laid-off employees to help them transition into new jobs.
The center will be established in conjunction with the Middlesex County Chamber of Commerce, and would be similar to the one established last year after the Old Saybrook manufacturing division of R.R. Donnelley & Sons Co. closed down and laid off about 500 employees.
A federal program established in 1998 called the Workforce Investment Act will also help unemployed workers find jobs. Through a program called the One Stop System, employees can have their skills and educational level assessed to help them find jobs.
Thornton said she planned on contacting U.S. representatives Rosa L. Delauro and John B. Larson about the availability of federal grants to help laid-off workers find jobs.
"We want to act as quickly possible to implement any programs that will help these people as they search for new jobs," said Thornton.
To contact Jim Hickey, call (860)347-3331 ext. 221 or email him at jhickey@middletownpress.com.
Madrigal shuts doors
By JIM HICKEY , Middletown Press Staff 07/02/2003
MIDDLETOWN -- Madrigal Audio Laboratories, a producer of high-end audio and video equipment that has been based in this city for several years, announced Tuesday that it will be going out of business.
A spokesman for Madrigal declined to comment on Tuesday, stating that there was nobody at the South Main Street offices who could handle media inquiries.
However, the city has received a letter indicating that the company will be shutting down for good on Aug. 30, according to Mayor Domenique Thornton.
A source close to Madrigal, who asked not to be identified, told The Press that employees showed up for work Tuesday morning as usual, and were told that they had been laid off.
They were then toldto collect their belongings and leave the building, according to the source.
Madrigal manufactures high-performance audio and video components under the brands: Audioaccess, Mark Levinson, Proceed, Madrigal, Imaging, and Revel.
The company is a subsidiary of Harman International Industries, a manufacturer of high-quality, high-fidelity audio and video products based our of Bedford, Mass.
According to the company’s Web site, Harman International was formed in 2002, and manufacturers products for the consumer and professional market. The company’s stock is traded on the New York stock exchange.
A public relations official for Harman declined to return a phone message on Tuesday.
A receptionist at Harman’s Bedford, Mass., office said that several of the company’s department heads "were in meetings" on Tuesday, and would not be able to comment on Madrigal closing.
Middlesex County Chamber of Commerce President Larry McHugh said the chamber been told earlier this week that Madrigal would be shutting down. He also said that he had heard employees had been laid off.
Although Madrigal or Harman were unable to confirm the total number of employees, McHugh estimated that the company employed around 100 workers.
"It’s a real blow. We’re not talking about a company that employees four or five people here. They employ a substantial number of residents from Middlesex County," McHugh said.
McHugh said he was surprised that officials for Madrigal or Harman hadn’t given more notice that the company would be closing down, especially since Madrigal is a member of the chamber.
"Usually we receive more notice when a company plans on shutting down or leaving. It allows us to work to lessen the blow on the employees, and the community," said McHugh.
The mayor said she had already contacted the state Department of Labor about establishing a crisis career center for laid-off employees to help them transition into new jobs.
The center will be established in conjunction with the Middlesex County Chamber of Commerce, and would be similar to the one established last year after the Old Saybrook manufacturing division of R.R. Donnelley & Sons Co. closed down and laid off about 500 employees.
A federal program established in 1998 called the Workforce Investment Act will also help unemployed workers find jobs. Through a program called the One Stop System, employees can have their skills and educational level assessed to help them find jobs.
Thornton said she planned on contacting U.S. representatives Rosa L. Delauro and John B. Larson about the availability of federal grants to help laid-off workers find jobs.
"We want to act as quickly possible to implement any programs that will help these people as they search for new jobs," said Thornton.
To contact Jim Hickey, call (860)347-3331 ext. 221 or email him at jhickey@middletownpress.com.
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- 32 posts total
- 32 posts total