After months of rampant rumors and speculation, Alesis announcedthat it filed for Chapter 11 bankruptcy protection on April 27, 2001.The filing was made in conjnction with an agreement to be acquired byJack O’Connell, president of Numark Corporation. Numarkmanufactures professional DJ equipment, including mixers, turntables,CD players, headphones and microphones. An auction for the company willbe held on May 23 in U.S. Bankruptcy Court in Los Angeles.
Alesis said it will continue normal operations during its protectionperiod; there is no word yet on what the acquisistion means for newproduct development, but the company said it plans to follow through ontechnology announcements made at AES and NAMM.
In an earlier announcement, Groove Tubes announced that thecompany’s three-year partnership with Alesis has come to an end.Under the agreement, Groove Tubes retains all original product designs,intellectual property for its studio mics and processors that wereinvented before the partnership, and retains exclusive rights to theGroove Tubes trademark and GT logo.
For more, visit www.alesis.com.