I sued to think that, too, but apparently it wasn't the case. It seems they went out because they were too expensive to make and repair (they had a large number of ribbon failures). The Grand in particular, while by all accounts one of the best speakers ever made, was too expensive to make. The company that bought them looked at what they owed and at the state of the high end audio market, and decided to close them down.
If you do a search you can find some accounts of what happened.
If you do a search you can find some accounts of what happened.