NHT Set to 'Go Quiet'
Speaker company NHT said Tuesday that it will sell out all of its remaining inventory by the end of next month, and will subsequently "rethink the future" of its business.
In a letter to friends of the company from owner Chris Byrne, the company reiterated that it is not in bankruptcy, but rather wishes to pull back in order to pursue a "change in strategy." All customer service and repair services will remain intact.
"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," the letter stated. "We’re anxious to get moving. When we do, it will be in the right direction."
The company's last day of official business will be March 31. Those interested are urged to check for updates at www.nhthifi.com
Byrne, who cofounded the company in 1986, repurchased it just over a year ago from Vinci Group, along with partners John Johnsen and Jim Pyle.