HIFi House ceases opetaions

This is quite a shock. The had announced that they were relocating the Jenkintown store a few months back, but the store never closed down. I always found them helpful and friendly; quite different from some others in the area.
 
If the company shut down this suddenly, and was involved in CI, it's probably a contract problem. If you spec a high-end home for distributed audio, HVAC, home theater, comms, networking, alarms, etc, you can sometimes have $250k worth of customer's inventory either in your storeroom or in escrow. The time from pre-wire to final sign off can be several years, and if something goes badly wrong during the contract, it can kill a small company within a day.

The good news is they often reappear, and if they are good, they bring their client base with them. Here's hoping!
 
If the company shut down this suddenly, and was involved in CI, it's probably a contract problem. If you spec a high-end home for distributed audio, HVAC, home theater, comms, networking, alarms, etc, you can sometimes have $250k worth of customer's inventory either in your storeroom or in escrow. The time from pre-wire to final sign off can be several years, and if something goes badly wrong during the contract, it can kill a small company within a day.

The good news is they often reappear, and if they are good, they bring their client base with them. Here's hoping!
That is not the issue. This was a banking issue and was stated as so in the releases.
 
Yes, the bank called in the loans and have taken control. The assets will be liquidated. I will keep an eye out for the announcement of a liquidation sale..
 
Yes, the bank called in the loans and have taken control. The assets will be liquidated. I will keep an eye out for the announcement of a liquidation sale..

That's exactly what happened to Counterpoint.
 
I believe this is the future for high-end brick and mortar stores.

And why hard evidence do you have other than beliefs??? Did you actually read the story of what went on here?
 
Considering how many high end stores have disappeared, I wouldn't be surprised in a lot more do in the next few years. Same with the high end manufacturers. Especially those that do not cater mostly to the ultra high end, which is what really seems to be selling the most these days worldwide. I have spoken with some about this very topic.
 
Joe,

If you hear of a sale would you post it here?
 
Considering how many high end stores have disappeared, I wouldn't be surprised in a lot more do in the next few years. Same with the high end manufacturers. Especially those that do not cater mostly to the ultra high end, which is what really seems to be selling the most these days worldwide. I have spoken with some about this very topic.

I agree 100% with you. I made a comment earlier and someone jumped all over me like I'm coming from left field.
 
Considering how many high end stores have disappeared, I wouldn't be surprised in a lot more do in the next few years. Same with the high end manufacturers. Especially those that do not cater mostly to the ultra high end, which is what really seems to be selling the most these days worldwide. I have spoken with some about this very topic.

And that's any different than what's gone on over the last thirty years? Show me the rates of stores closing and stores opening has changed. To me, the only difference is that new stores are taking on less overhead like rent.
 
And that's any different than what's gone on over the last thirty years? Show me the rates of stores closing and stores opening has changed. To me, the only difference is that new stores are taking on less overhead like rent.

There are a lot more stores closing than opening.
 
There are a lot more stores closing than opening.

Show us. Prove that it's any different than how business has been conducted in high-end audio for the last 20 years+.

You still haven't answered my first question either.
 

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