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Warranty Concerns For Philips Products, Following Gibson Brands Collapse

The collapse of Gibson Brands has sent shockwaves through consumer electronics retailers in Australia with concerns now mounting as to who will take responsibility for warranty claims on Philips and Pioneer products.

According to sources Gibson Brands will not be in a position to support any warranty claims after the US Company was placed into Chapter 111 with debts of over $500M.

Powermove, the Australian distributor for Philips and Pioneer products, who has been in discussions with retailers during the past two days, has written to retailers including JB Hi Fi, Harvey Norman and Big W who recently moved to de range Philips headphones claiming that they would take responsibility for all warranty claims in Australia.

One retailer told ChannelNews “We are concerned”.

Questions have also been raised about the future of TEAC, as Gibson Brands, was the parent company of the TEAC Corporation.

In a statement issued yesterday TEAC said that it does not make any comment on how the restructuring will impact the relationship between TEAC and Gibson.

“While Gibson owns a majority interest in TEAC, TEAC operates autonomously from Gibson including suppliers, distribution channels, customers, legal agreements, bank and financial arrangements, human resources and personnel. TEAC develops and executes its own business strategies and is responsible for the results” the Company statement said.

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