DJ and commercial audio equipment manufacturer Ecler has gone into liquidation, but it is not closing down, as some reports have suggested.
In a statement sent to Audio Media sister title Audio Pro International, Ecler said the move is "the best way forward" for the company, as it will enable new investment from an as-yet-unknown firm, which is due to acquire all of its assets.
The process will lead to "more resources that will allow significant expansion," Ecler says. It also revealed that it has been looking for new investment for some time, "in order to capitalise on its success" in the commercial audio market.
The statement was released in response to online articles from certain DJ publications that were "not entirely accurate", according to Ecler.
Here is the complete statement...
"Late last week various articles appeared in digital publications to the effect that ECLER had declared itself bankrupt. This information is not entirely accurate and does not reflect the actual situation.
"Some years ago, as is widely known, Ecler turned its business focus towards the direction of commercial audio (Pro AV systems integration) and away from developing the DJ market further than the products that are currently still available. In the last 6-7 years we have succeeded in developing a strong market share in commercial audio and are satisfied that our decision was appropriate. In order to capitalise on this success we needed to secure new investment in the company - we felt we were missing market opportunities that could assist in further expansion.
"About a year ago we started to search for a new investor for Ecler and during the summer we found a suitable partner. Careful financial analysis drew us to conclude that the best way forward was to liquidate the existing company and allow the investing company to acquire the assets of ECLER (brand, patents, management and personnel). This procedure began in September and is forecast to conclude by the end of the year. In the meantime, Ecler continue to trade as normal.
"In conclusion, far from being the end of Ecler, the reality is quite the opposite. Ecler is, in fact, being reborn with more resources that will allow significant expansion. We have ambitious plans in terms of product development which we look forward to previewing at ISE in Amsterdam in February.
"We hope that this statement makes our situation clear and corrects any misapprehensions about Ecler's position.”