Re: Chapter 11? - Yes, funfortunately
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Posted by Rod on May 11, 2001 at 15:51:35:
In Reply to: Re: Chapter 11? posted by Bob on May 06, 2001 at 16:27:53:
Yes they did.
The official press release, FWIW:
Alesis Announces Chapter 11 Reorganization
May 11, 2001 -- Alesis Studio Electronics announced it filed for Chapter 11-bankruptcy protection on Friday April 27, 2001. The filing was made in conjunction with an agreement in principle to be acquired by Jack ODonnell, President of Numark Corporation. As part of this agreement Mr. ODonnell has provided financial support for the company. An auction for the company will be held on May 23, 2001 in United States Bankruptcy Court, Courtroom 1475, 255 East Temple Street, Los Angeles, CA, 90012. For further information concerning this auction, interested parties should contact Alesis attorney Bennett Spiegel at Wynne, Spiegel, Itkin, 310-551-1015.
Alesis plans to continue normal operations at the company during this protection period. Jim Mack, V.P. of sales and marketing, said, Were very excited about the agreement with Mr. ODonnell and what it means for the future of Alesis and our newly introduced product line. While weve had to make certain reductions in our operation, were confident that in a very short time we will be back to doing what we do best supplying the market with innovative, high-quality audio products that improve the way people make and record music.
The company announced that all customer service functions would remain operational during the short protection period. This includes tech support, service, sales, shipping and receiving, and parts. Jim Mack added, We have maintained the core integrity of the company including the majority of the engineering staff, our manufacturing and sourcing team and our key sales and marketing staff. This will allow us to support most normal operations during this period and to ramp back up to full speed quickly once were through this transition. We are working to continue the supply of Alesis products and services and we are poised to begin shipping the remainder of the new products introduced at AES and NAMM.
On the heels of a bold new marketing campaign dubbed, "The Re-Evolution of Music," Alesis recently introduced fourteen new products within a six-month period. Among the new innovations is the groundbreaking trio of the A6 Andromeda 16 voice real analog synthesizer, the ADAT HD24 hard disk recorder and the ProLinear 820 Customizable DSP studio monitors.
For more information, visit their web site at www.alesis.com.
- Re: Chapter 11? - Yes, funfortunately David Moore 5/15/2001
- Re: Chapter 11? - Yes, funfortunately......Well bust my buttons! I stand corrected-Thanks! Bob 5/14/2001