Krell Moves to new location

I see JF Bricking is a member of the Krell ENTHUSIAST Group on Facebook. Lots of avenues for them to speak. Thanks all who have reached out and questioned JF Bricking. I won’t say questioned Krell because I don’t believe Krell still exist. There is not much or any profit to be made. That’s why JF Bricking is doing little. It’s not worth their time.

 

 

@thetruespiritofradio said:

Too bad about Krell - have had plenty of experience with vulture capitalists in past lives, and this pattern is always the same.

Sure sounds like that’s what JF Bicking & Co. is.

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JB Bicking & Co.

Wil Buhler

Experienced Chief Executive Officer with a demonstrated history of working in the management consulting industry, and venture capital. Currently run a Holdings company specializing in startups and industry disruptor companies. Takes a hands-on approach with the companies we manage and partner with.

Who hired the Probate Lawyer that got a Judge to lock down the assets of Krell industries? My guess is,

From @hgeifman post 11-22-2024 at 12:36pm

Q -When can we expect Krell to reopen? And upon reopening, when can staff be expected to return to the factory to resume work?

We technically never closed just our facility, we’ve tried as best as possible to make ourselves available via our firm and email. 610 894 0692 or Service@krell.industries. Here’s the less annoying part of my answer. As an attempt at full transparency after much delay due to the courts insistence on a particular family member’s involvement in the matter, approximately 3 weeks ago the courts gave us permission to proceed ahead with the probate process without the individual.

A family member... Just a guess the Son. Someone on the SH forum posted a while back that Rondi D’agostino’s husband has Dementia. ??? Don’t know if that is true...

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Krell has had money problems for years.

2009:

https://hometheaterreview.com/what-happened-at-krell-and-why-the-dagostino-family-is-out/

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2009

https://www.twice.com/news/krell-founders-sue-equity-fund-return-company-18287

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2011

https://casetext.com/case/krell-investor-llc-v-ki-inc

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2018

https://www.strata-gee.com/krell-business/

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July 26, 2022

https://www.strata-gee.com/turmoil-returns-to-krell-coo-walter-schofield-is-out-without-explanation/

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Edit:

Add to above post 12-22-2024 at 08:56am

KI v. KP LLC (2010) Superior Court of Connecticut. KI, Inc. et al. v. KP Acquisition Partners, LLC et al.

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The case citation from jea48 is from 15 years ago and while it shows a litigious past for Krell, it has no bearing on the current situation. Interestingly, it put a value on Krell at $3MM in 2009 ( 40% was bought for $1.2MM). Doubt it is worth that much now. Buhler said a month ago there would be a press release the end of November . Clearly that hasn’t happened and as many have pointed out, the lack of communication by Krell and Bickering is very unusual and unprofessional. Furthermore, his choice of using Sterophile and a Krell enthusiast group as the points of dissemination for news on the company is just plain stupid. Why wouldn’t you issue a press release, post it on the new website, and then various groups would pick it up and transmit it?

Let me see if I can add some potential clarification to what the role of Buhler and his firm. They may have a venture capital arm, but Buhler is acting in an advisory capacity as a turnaround guy. As I stated in a prior communication that means he is either working to fix it or to sell it. Many in this forum has rightly stated that the longer this current malaise continues,  the lower the probability of recovery and the higher the probability of a simple salvage through liquidation. The liquidation value decreases with time as well since personnel assets have dispersed and brand equity has been diminished. It is unclear who hired Buhler, but whoever did should hold his feet to the fire and have him communicate with Krell stakeholders both more professionally and more frequently. Doubtful he is doing this as an act of charity by a committed audiophile, so he has a fiduciary responsibility to act in the interest of the debt holders ( those of us with product in at Krell fall into that category).

I am increasingly suspect of the viability of Krell as a going concern and also the probability I will get back my $20K amps. The next steps are just unclear at this point, but I appreciate much of the input from folks on this forum. Keep fighting the good fight.