Japanese audio equipment manufacturer Onkyo Home Entertainment has filed for bankruptcy with the Osaka District Court with a total debt of approximately 3.1 billion yen ($24 million). message about it seen On the Nikkei Asia website.
One of the main reasons for this was the company’s logistical issues that arose against the backdrop of COVID-19. Due to the quarantine and other restrictions imposed due to the pandemic, the company was unable to deliver its products to partner retail chains for a long time.
“We explored all possible ways to keep the business, but we were unable to pay our debts,” the company said.
The publication states that Onkyo’s financial problems were known long before the bankruptcy was announced. In 2021, the company sold its home theater design and production division to Sharp Corporation. Around the same time, he learned about the delisting of the old audio market on the Osaka Stock Exchange and the closure of the headphone division.
Onkyo was founded in 1946. In different periods, he was engaged in the production of not only audio equipment, but also other equipment, such as Intel VIIV-based DVD players and miniature computers.
Formerly socialbites.ca Wrote About a strong reduction in the supply of laptops and computers in the second quarter of 2022.