Insolvency

I would like to say what happened at the insolvency sale. Like kelly anticipated, it was a 'going out of business sale' with an external institution supervising the sale of the merchandise. Everything was discounted the same 40% irrespective of condition or other considerations. Nothing had a guarantee or a return policy. One of the sales personnel from the store ran around helping a thick crowd of customers. Needless to say, amidst the chaos there was no chance for a listening test of anything. It seems the good, expensive components were the first to go (Avalon speakers, Audio Note equipment, NBS cables, etc.) and the rest was sort of sold randomly. The owner of the store was mysteriously not present. There were many frustrated customers wanting cash for coupons and vouchers the store had given on trade ins. The external agency denied them any cash returns. They were all given an address to write to in order to be put on a list of creditors. There were also many people expressing surprise and disappointment that the store was closing. Reasons for its bankruptcy ranged among a number of different explanations. The salesperson present does not have plans to go into audio retail again. He gave me his telephone number and we will remain in contact on a private basis.

Or it may be that the merchandise was no longer his; his creditors may have seized the assets (legally) to secure their debts. Or the merchandise may have been used as colaterral for loans that were not repaid (pretty much the same thing, I guess).

Elizabeth, Swampwalker--I think the owner (a young, passionate audiophile) needs some time away from his business to mourn its demise and, slowly, to reorient himself.