Now Hear This: NHT Shuts Down
Co-founder says company is not bankrupt and will close doors on March 31.
NHT (Now Hear This) Audio is closing its doors, according to Chris Byrne, co-founder of the speaker and audio manufacturer.
On Tuesday afternoon, Byrne sent out the following letter, announcing that NHT isn’t bankrupt, but they’re “going quiet.”
February 23, 2009
Dear Friends of NHT,
It’s time to turn down the lights: NHT is going quiet.
Over the next 60 days we’re going to sell the remaining professional and consumer inventory through our existing dealers and distributors, pay our bills, and then spend time rethinking the future of NHT. However, you should know that we are not bankrupt. Everybody here is fine and no, the car didn’t get hit by a train. In a way this difficult economy provided the right opportunity for the change in strategy we felt has been necessary for some time.
One thing that is for sure is that this is not about our love for or commitment to the brand. It isn’t about the audio business, either. It’s all about the realities of the world and how consumer attitudes are changing, and how we as a brand and an industry can best respond to the need for real invention. We’re anxious to get moving. When we do, it will be in the right direction.
NHT has always stood for something more than a great speaker. Our philosophy has to do with a way of thinking – about value, about fair play, about paying attention to what matters, about integrity. For us, it’s a way of life.
We have a colorful history that included our share of distractions, but we hope we have made the speaker industry a little more interesting and helped in raising the bar.
We believe March 31, 2009 is to be the last day of “regular” business, at least for now. We intend to offer customer service and repair services for both in and out of warranty, available ongoing. Keep an eye on our website (nhthifi.com) for more details and the occasional update.
Remember, this isn’t good-bye, it’s just “see you on the other side”
Thanks for everything!
Chris, John and the entire NHT gang
Stay tuned for updates as this story develops.
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