Electrograph to Liquidate
As perhaps the biggest pro AV causality of the economic downturn to date, distributor Electrograph Systems announced it would liquidate all its inventory and assets.
As perhaps the biggest pro AV causality of the economic downturn to date, distributor Electrograph Systems announced last week that it would liquidate all its inventory and assets. In addition to distributing AV systems to the pro AV market, Electrograph had put on regular Display Technology Experience training and expo events in association with the National Systems Contractor Association (NSCA) and the Custom Electronics Design and Installation Association (CEDIA).
"We are very disappointed with this outcome," said Alan Marc Smith, Electrograph's outgoing CEO, in a statement. "There were a number of factors leading to this result including poor economic conditions and constrained access to vendor credit. After exploring all other possible avenues for sustaining the company, including an unsuccessful sale process, our board decided this was the only path for our company."
Added outgoing president Sam Taylor, "After being with Electrograph for 22 years, I am deeply saddened by the result of this situation. We would like to thank our resellers for their business over the past 25 years, our vendor partners and other friends in the industry for their support. Above all, we thank our loyal employees for their hard work and dedication."
The company will maintain about 60 employees to conduct the liquidation, according Electrograph. Its four warehouses in City of Industry, Calif., Grove City, Ohio, Hauppauge, N.Y., and Middletown, N.Y., will remain open and shipping product.
Company officials said Electrograph's website will remain functioning during this period, advertising promotional offerings and posting updates on the liquidation process.