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Is it true Genesis is out of business?

I have heard this several times in recent months, and some people have found their website unavailable, but I have accessed the website often recently w/no problems. I think my Genesis 500's are the best speakers I have ever owned--of course, I haven't owned 'em all or heard 'em all, but these have remained in a constantly changing system for 5 yrs and I still love hearing them. If it's true that Genesis is folding, I'd look for great deals on the newer model 501's and other Genesis models. I've had several people lately tell me to stay away from Genesis, given their financial situation, but if I can get some of their speakers for huge discounts, why should I stay away? Is it because of warranty issues? My 500's have been perfect, and couldn't someone else fix a faulty speaker for me (for a price, of course) anyway? I have never had to use the warranty on a speaker, maybe that's just good luck, but I have never had one blow or melt or anything. Any other reason not to buy Genesis speakers at huge discounts, if possible?
sc53
marakanetz's avatar
marakanetz
5,473 posts
 
Who's going to service these speakers if Genesis is out of business? Did they produce their own drivers or they've used drivers of the different brand?
Anyway their price is suppose to drop down fast if this is true.
I've already seen a trhead for Genesis like that before. It was very optimistic and people said that this is impossible for them to go out of business! Some people said that they're still active and still produce the world's best speakers.
skull
36 posts
 
Yes, they are gone.
sternart
34 posts
 
I've had tremendous difficulty with them this past year trying to have a woofer amp repaired, then ended up having to buy a new one and wait months for that...then wiring problems, took months of frustration to resolve.....bottom line is the speakers sound FABULOUS, but the company must have been on the edge for awhile, they were quite unreliable. I hope Arnie gets another investor & Genesis is revived from the ashes....but as I understand it they are no longer in business.
jwilt
45 posts
 
It's a shame - they've made some killer products over the years. I recently bought a used pair of Vs that were shipped to me without the amp cables. Thank God I got Genesis to help me resolve the problem (this was in the last two months) before they went out. The speakers sound incredible...

I second the wish that some investors step forward and give us Genesis fans a happy ending.

Jim
alex0ba7
1 posts
 
If someone want's to give up on Genesis, I might be interested to purchase a mint pair of Genesis 350SE or Genesis 201.

Alex
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