Vestax Is Reportedly Filing For Bankruptcy In Japan

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Vestax Is Reportedly Filing For Bankruptcy In Japan

Back in October, rumors began circulating that Japanese DJ equipment manufacturer Vestax was about to go under after they were dropped by their U.S. distributor, went silent on social media channels, and failed to deliver any new products.

Well now the news is official, as Resident Advisor writes:

posted today by the Teikoku Databank, a Japanese business news website, confirms these suspicions. Vestax stopped business operations at the end of August and officially entered bankruptcy proceedings in Tokyo District Court on December 5th, with liabilities cited at around 900 million yen (approximately $7.5 million). The deadline for filing proofs of claim against the company is January 9th, 2015.

It has also been confirmed that Vestax's Facebook page is no longer online, and reported by Resident Advisor that regional websites have been taken offline.

Vestax was founded in 1977, and produced DJ gear like mixers, turntables, headphones, and other accessories. They gained prominence in the US market with the release of the PMC-05 Pro, a two-channel battle/scratch style mixer, shown below.

Vestax Is Reportedly Filing For Bankruptcy In Japan

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Via: Mixmag