German manufacturer TWAUDIO bankrupt

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Tom Mayer

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Dec 25, 2020
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This may interest some TW Audio customers. Since few weeks the manufacturer TWAUDIO from Germany is bankrupt. Nothing to see on the TWAUDIO website. A german court has given a judgment.

Stuttgart Local Court File no: HRB 727830
Announced on: 12/15/2020 12:50 p.m.
Address and branch of business information given in () is provided without liability: Changes 15.12.2020
HRB 727830: TWAUDIO GmbH, Ludwigsburg, Osterholzallee 140, 71636 Ludwigsburg. By order of Ludwigsburg Local Court dated December 1, 2020 (2 IN 300/20), insolvency proceedings were opened against the assets of the company. Self-management by the debtor has been ordered. The Company has been dissolved by the opening of insolvency proceedings against its assets (Local Court Ludwigsburg, 2 IN 300/20). Pursuant to Sec. 60 (1) GmbHG in conjunction with Sec. 65 (1) GmbHG entered ex officio.
 
Hi Tom

I’m glad to say this is misleading - TW AUDiO isn’t going anywhere. There has been a management buyout (finalised just a few days before Christmas - you’re seeing a bit of that process here) to help guard against the effects of COVID-19 and to make the brand and team a lot stronger on the other side of the pandemic, but as far as day-to-day operations and trade are concerned, nothing will change. A full announcement is on the way after Christmas.

In the meantime, Merry Christmas!

Barney Jameson
The inside Story
 
As I have already said to a friend of mine, this damn pandemic has hit really hard all of us, and this kind of great companies are not exceptions. I was really surprised back when I found out about their bankruptcy. I mean, they had no great problems actually, however the pandemic and the lack of financial resources made it go from bad to worse. Let's hope they will make it out of this situation, however in case they won't, they will have to call for the services of antonybatty.com which is actually the best company liquidation agency. Let's hope they will not need it.
 
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