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Embattled Final Loudspeakers Files For Bankruptcy In Belgium

  • By: HomeTheaterReview.com

  • April 20, 2009

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Sources close to HomeTheaterReview.com have provided a full listing of assets being liquidated from Belgian-based Final Loudspeakers as the embattled electrostatic speaker company is giving up the ghost.

Final Loudspeakers were among the first to make flat speakers that were visually transparent and mounted on-wall to match today's large format, flat HDTVs. Companies like MartinLogan quickly took the concept and ran with it in ways that Final Loudspeakers could not even with the help of industry veterans such as Nancy Weiner (former Atlantic Technology exec) and Ed Stadlen (before he left to run national sales for Mark Levinson). Ultimately, Final never got anywhere with market share in the United States.

But the scandal around Final Loudspeakers was its higher executive team as its CEO, Gaston Bastiaens, was involved in what media analysts call "the Enron of Europe" via a company called Lernout and Hauspie which made voice recognition software. L&H raised a lot of money in the go-go 1990's but never delivered on its promise, resulting in investigations and trials for Bastiaens and his executive team. Note, this was the same executive team that ran Final into the ground with some in the AV industry asking tough questions about just how the money for Final was raised.

Keywords

Final Loudspeakers bankrupt, Final Loudspeakers chapter 7, Final Loudspeakers going out of business, Lernout and Hauspie, Goldman Sachs, Lernout and Hauspie (L&H) Belgian voice recognition software, European Enron, financial scandal, Nancy Wiener, Ed Stadlen, Final Audiophile speakers, on-wall speakers, onwall speakers

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  • Comment on this article

    8
  • By Anonymous

It couldn't have happened to a "nicer bunch" . They knew just enough to make them dangerous, arrogant, and ignorant of how to do business in the USA. The fact that two industry veterans were not able to pull them out of the muck, shows just how much they didn't "get it". Also, it didn't help that the product has serious design issues that made it unusable for most applications, while claiming that their design "fixed " those issues .. NOT. They lied to themselves, their employees and to their dealers. Bye Bye. You will NOT be remembered fondly.

  • By Anonymous

I couldn't agree more with the above comment. Mom always told me that "a little knowledge is dangerous", and this group certainly proved it. They had just enough knowledge to NOT follow the advice of the two industry vets mentioned in your article who have many years of experience between them, so surprise. . . the line failed! This "nicer bunch" as described above seemed to tell a great story, but in the end it was all smoke and mirrors. So, as in a puff of smoke - they disappear. They won't be missed.

  • By Ken Taraszka, MD

I have two friends who own these speakers, both are very happy with them. One has had some warranty issues, but albeit slowly, they were handled.

The irony is the one who had warranty issues lost tons of cash on L&H....

  • By PHIL

No information about a liquidation sale for US inventory? That is such an obvious question.
I am surprised there in no information in this story about what is important to readers

  • By ian

Phil puts it perfectly. That info is the only reason I read this article and lo and behold zilcho.

  • By Jerry Del Colliano

I don't have the US information. You might want to try to seek it out via Belgium and work your ways backwards.

Honestly, I am not sure how much inventory was left in the US as Final hasn't been viable for a very long time.

This whole thing was a total waste in that they had a happening products poised to sell right along with the mid-2000's boom in HDTVs and they blew it. Totally blew it.

  • By phillip

I remember how Radio Shack years ago blew it because they were unaware the Belgians
exchange christmas gifts on the feast of St. Nick early in December. That's arrogance as
well. Talk about no knowing the market!

  • By Alnasir Visanji

I bought a demo pair of the 300i speakers with 2 problems out of the box! One of the speakers was arcing in the middle area and the second problem was that these speakers are supposed to be mirror images of each other - I receieved 2 left speakers. Okay, these were such a bargain that I spent 2 weeks trying to solve the arcing problem, temporarily at least, and then had the oppurtunity to hear them without sparks! I will reserve my opinions for the time being until I have a had a decent chance to listen to them properly, by setting them up reasonably well and spinning some familiar music. But, if I were to tell you that people who have heard them, as they are, were astonished at their amazing clarity and detail is beyond subjective prejudice. No doubt in anyone´s mind here that these marvels easily beat your everyday box speakers. Therefore the product is recomendable, regardless of the people who chart their course, one has to be able to separate these two. Further more, I should add the following: for best results you will need 2 subwoofers, ( the variation with one subwoofer in the middle is not feaseable in my sitting room ). The 300i are floorstanding speakers, placing each one on top of a subwoofer ( my present situation ) seems to beam the sound above my head, as I get a louder response if I were to stand up. Elsewhere in the room the sound is not so loud but in my listening position, no complaints. When I watch TV, the dialogue is so clear that the volume level is lower than with cone speakers, but the amplifier volume dial is higher than it used to be with my sony half egg shaped speakers. More to follow soon. Obviously, I am still on the learning curve here, so any advice or suggestion is welcome from you folks out there. Do please respond, cheers!

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