EXCLUSIVE: Another Sound Retailer Shuts Up Shop
Another specialist sound dealer who sold premium Bang & Olufsen, Sonos, Devialet and Bose sound systems is set to shut up shop.
Perth based retailer AudioHub which was established in 2004 has moved to discount out tens of thousands of dollars’ worth of stock ahead of the store closing its doors for the final time on November 30th.
Michael Senior from AudioHub wrote on his LinkedIn page “Soon to be looking for new opportunities, after nearly 40 years association with Bang & Olufsen”.
Senior management in an email to customers wrote Bose, Bang & Olufsen, Sonos and Devialet will continue to honour all world-wide warranties on products so please feel comfortable with any purchases you have made through AudioHub over the years or in this coming month. In the future please contact the appropriate brands customer service line and they will be able to assist with your inquiry.
We have some great pricing on all new products and floor stock so please come in and see the savings in store or online.
Recently Bang & Olufsen reported a second consecutive quarterly loss as retailers struggled to clear out excess inventory.
The operating loss was US$19 million in the three months through August.
Their stock as of early October was down over 70% but has rallied 4% after the Company appointed a new CEO.
The Company said that B&O needs distributors to clear out stock as consumers balk at buying what is seen as average high-end consumer electronics including a $33,000 television.
Chantelle Somas the owner of AudioHub wrote “have made the decision to close AudioHub. Due to personal reasons AudioHub will have its final day of trading on November 30th.
I would like to sincerely thank everyone for their support since opening the store in 2004. I have met some wonderful people and made some lifelong friends over the years.
I’d like to thank in particular the team at Bose Australia. Their support has been outstanding, and it has been a wonderful business partnership for over 15 years. Something I truly appreciate.
Also, to all the staff past and present, it has been a pleasure and honour to work with such specialised and knowledgeable people”.