Updated 2/20/2025 (previously 2/12/25)
In a Connecticut courtroom on Wednesday, Kristofer D'Agostino, son of late Krell owner and CEO Rondi D'Agostino, won control over his own trust, opening a path for Krell to begin to get its ducks in a row and, if all goes well, reopen.
This was a probate hearing, intended to establish who would control the D'Agostino trust. Wil Buhler of "family holding company" JF Bicking had put forward a motion to have a third party administer the trust. Buhler apparently didn't know that the proposed third-party administrator had already notified the court that he would not accept the role of trust administrator. The only alternative available to the judge was to allow Kris D'Agostino to administer his own trust.
According to Stereophile sources, once D'Agostino receives the certificate certifying his role as administrator, he will be able to gain control of the probate assets, which are said to include at least 70% of Krell. (The possible ownership by JF Bicking of the other 30% remains in dispute—a dispute that must be resolved in Delaware, where Krell Industries is officially registered.)
For many months, it was widely assumed—not only by Stereophile—that Kristopher D'Agostino did not intend to try to reopen Krell. That left JF Bicking as apparently the only horse in the race. Recent weeks have brought indications that Kristopher D'Agostino does indeed intend to pursue Krell's reopening. We're not business experts, but that intention and an undisputed 70% (and possibly larger) ownership stake would seem to put him in a position to at least make the attempt.—Jim Austin
Updated 2/12/25 (previously 2/7/25)
In the February issue, Stereophile tentatively predicted the immenent reopening of Krell Industries, the legendary high-end amplifier manufacturer. It didn’t happen, and it still hadn’t happened as the current issue went to press.
It now appears that two parties are competing to reopen Krell.
To recap: On June 18, 2024, Krell Industries closed following the unexpected death of owner and CEO Rondi D’Agostino. An early announcement indicated that the closing would be brief, but Krell has been in limbo ever since.
In an interview in late January, Wil Buhler of self-described “family holdings company” JF Bicking & Co. told Stereophile that the long-awaited reopening was within reach. Others disputed his claim, though not publicly.
What is JF Bicking’s relevance to l’affaire Krell? Bicking claims a 30% share in the company. “JF Bicking’s working relationship with Rondi [D’Agostino] gave her and us equal managerial control, even though she still held the majority share,” Buhler told Stereophile. Documents supplied by Bicking and reviewed by Stereophile appeared to support Buhler’s claim of an ownership stake.
Who owns the rest of Krell? “With the death of her husband in August of 2024, the [majority] share has now gone to her heir,” Buhler said. “Her heir” is Rondi’s son Kristofer D’Agostino. Also involved, perhaps as an adviser to Kristofer, is Steven Javaherian, Krell dealer and proprietor of Florida–based dealership High Performance Stereo. In November, Javaherian set up a Connecticut limited-liability corporation (LLC) called Krell Audio.
Javaherian and Kristofer have refused to talk with Stereophile. “We were ordered by the probate judge not to make any public statements at this time,” Kristofer wrote in an email. “Unlike the other parties involved, I’m obeying the judge’s orders to not speak on this issue until a ruling has been granted.”
Anonymous sources told Stereophile that at first, Kristopher was uninterested in being involved with Krell. Apparently that has changed. Now, two factions—majority owner Kristopher on one side, JF Bicking on the other—are competing to own and reopen the company.
“Within a day or so, we are planning to submit a formal offer to buy Rondi’s outstanding majority share of Krell from her heir. Our lawyers … are pretty confident that we will succeed.” Documents reviewed by Stereophile suggest that the proposed deal is structured as a small upfront cash payment plus a declining share of profits, starting at 10%. JF Bicking would take on all Krell Industries debt.
“Ultimately, we think the courts will intervene,” Buhler continued. “We’re requesting the appointment of an independent third-party administrator to handle Rondi’s estate so that we can proceed with reopening Krell.” When contacted in early February, Buhler said the offer had been made but that no response had been received. A court hearing was scheduled for the week of February 3 but then rescheduled for February 19, well after this issue of Stereophile went to press.
Willie Barnett, Krell’s longtime repair technician, is still in the picture. In a Facebook post in mid-February, he wrote, “I am still working with Steven Javaherian to get the Repairs going again”; Earlier posts to the group, in late December, suggested that he was working with JF Bicking. He has made it clear all along that his interest is in getting Krell reopened.
When we spoke with Buhler in late January, he said, “Through all subsequent negotiations with [Kristofer D’Agostino], the invaluable help of former Krell Industries Vice-President Walter Schofield has enabled us to stick it out through less-than-cooperative behavior on the majority holder’s part. Once matters are settled, and we can start up again, Walter will come back onboard in a consulting capacity and help with the rebuilding of Krell.”
Contacted by Stereophile, Schofield remained neutral in the ownership dispute, saying, “I only ever wanted to see Krell reopen, have people’s equipment repaired and returned, and if possible, see the brand restart production. … At first, it seemed there was only one horse in this race. All I ever wanted to do was help, and I am still willing to do so for any entity that takes control of the brand.”
Stereophile’s hope, too, is that whichever side comes out on top, the dispute will soon be settled so that Krell Industries can reopen and restart its work processing repairs and fulfilling customer orders.
