After 40 years of operation, Cadac Electronics is being placed into administration following a sudden and unexpected falloff in anticipated sales of the company’s analog products. Anthony Kent of Maidment Judd, Harpenden, has been appointed as administrator.
Having recovered from financial difficulties the past three years, Cadac was close to putting its new digital console into production to fill anticipated orders of approximately £2 million. The directors are hopeful that buyers can be found for the company, noting that the S-Digital console is approaching production, to augment the ongoing sales, service, refurbishment and new production of Cadac analog desks (F-type, J-type, R-type and S-type). The S-Digital was reportedly shown at the recent PALM Expo in Beijing, China.
Managing director Bob Thomas said, “Although additional bank finance had been put in place to complete the S-Digital development and to get its production underway, the sudden slump in forecast analog sales over the next few months meant that Cadac would be unable to maintain the underlying cash flow necessary for its survival. Sadly, unless we can find a buyer for the company, the S-Digital, which is thought by many to be the best-sounding digital console ever developed, will disappear, along with Cadac.”
For more information, visit www.cadac-sound.com.