M&K's Assets to be Auctioned

As we reported last March, Ken Kreisel declared bankruptcy, closing M&K Sound after 34 years of operation. Last week, the Great American Group, which, according to its website, "provides asset management, disposition, and financial services," announced that it would offer M&K's $3 million in assets at auction on July 19.

The auction will be webcast in addition to being live at M&K's 9207 Eaton Avenue address in Chatsworth, CA. On July 18, the premises will be open for inspection. Great American says it will be auctioning over $350,000 in finished merchandise and approximately $2 million in speaker assembly parts, as well as tools from the industrial wood shop, office furniture, warehouse equipment, the contents of M&K's test suite, and the components in the company's editing and mixing studio. Also available to the highest bidder will be M&K's intellectual property, which Great American dubs "world-wide name recognition."

The auction's terms include a $500 entrance deposit and a 10% "buyer's premium" (13% for web bidders). Additional details are available from Great American Group at (818) 884-3747, ext. 340.