UK's Mordaunt-Short Speaker Brand Acquired by Richer Sounds

The shock news on November 18, 1998---that the highly regarded British speaker brand Mordaunt-Short was to be closed down (see previous story)---seems to have achieved the desired result. On December 30, Audio Partnership plc announced it was acquiring the Mordaunt-Short brand from TGI plc (Tannoy Goodmans International).

Audio Partnership is the manufacturing/sourcing division of the Richer Sounds Group, the largest specialist hi-fi retailer in the UK, with around 30 stores nationwide. AP's Chief Executive, James Johnson-Flint, described Mordaunt-Short as "The perfect partner for our Cambridge Audio brand. . . . Both allow people to enjoy near-high-end performance at an affordable price, and we are committed to continuing this ethos."

He went on to stress the importance of maintaining the brand's traditions, and AP's intentions to pick up where things left off. AP is currently talking to key members of the M-S team to ensure maximum continuity.

The most obvious initial change is that Richer Sounds will take over the M-S brand's UK distribution, a scenario that won't please other longstanding UK retail accounts, but comes as no surprise. Overseas distribution is expected to continue as before, promised Johnson-Flint: "They are looking for continuity of supply and serious ongoing investment. That is exactly what we intend to give them."