Threshold Corporation Plans Financial Reorganization
According to Chris English, Sales Manager for and shareholder in Threshold Corp., "We are indeed going through some financial and managerial difficulties at this time, and are working hard to restructure in order to meet these new challenges. Following a Board of Directors meeting to be held next week, we expect to deliver some very positive news about new financial strength and renewed commitment to the high-end value for which we are known. This is definitely not a case where we plan to move downmarket."
Chris emphasized that, although times are tough at Threshold right now, the company is setting a plan in motion "that should put things in good order shortly." Chris stated that "the plant is currently in a suspended mode of operation until the arrangements have been finalized. We then plan to bring operations back up to normal as quickly as possible."
It's no secret that high-end audio is a tough business even in the best of times, and for a lot of folks, these are not the best of times. This is especially true at Threshold, where the lion's share of recent orders came from overseas. With the recent devaluation of Pacific Rim currencies, exports to Asian markets have dropped dramatically, and competition for consumer dollars in the US has intensified, with home-theater and personal computers also vying for a portion of the customer's paycheck.
English expressed Threshold's commitment to current owners of Threshold, FortT, and PS Audio products: "We are working out the logistics and arrangements in order to continue to support both warranty and nonwarranty repair of all products. The issue of customer service has the highest of priorities and commitment from Threshold. Consumers and dealers are welcome to contact me at my e-mail address; I will be glad to assist in making arrangements for service or repair."
Although they're working hard to complete the restructuring, Threshold and Chris English can be reached by e-mail at email@example.com.