Is Cinepro out of business? (1 Viewer)

[RobertR]

Just heard about this thread:
http://www.audioasylum.com/audio/gen...es/235726.html

 

[Anny Chien]

If that's true, wow that really sucks

 

[Jack Kelsey]

Who prepays $4400? Sounds like someone doing so is 'flying for a crying.'

The same principle should be used as in gambling: don't pre-pay more than you can lose without doing more than shrugging your shoulders with an 'oh shucks.'

 

[John Kotches]

I sent a note out to my Cinepro contact to see what info (if any) I can get.

Regards,

 

[Craig Woodhall]

If it is true, it is a shame.. I have all Cinepro amps for my 7.1 system and LOVE them.. Make some of the best amps on the planet.

Craig

 

[Tony Genovese]

Who prepays $4400?

In this case, someone in the industry buying from a fellow manufacturer.

 

[Jack Kelsey]

In that case - EVEN STUPIDER!!!

 

[Tony Genovese]

In that case - EVEN STUPIDER!!!

??????????

 

[Michael_Hml]

Umm... considering it was from a very reputable company with a history of very good products, why *wouldn't* he have paid up front for his purchase?

Or am I missing something here?

-Mike

 

[Bill Lucas]

Michael,

You're not missing anything. An accomodation purchase from a manufacturer is a prepaid item. The manufacturers bank line is not there to fund accomodation purchases at a discount. There's nothing stupid about it.

 

[Jack Kelsey]

Believe me, no 'reputable' company needs to collect $4400 as a pre-payment. Anyone arguing that such pre-paying is necessary or even ethical is far too rich to even say boo about being cheated out of it.

There are custom-made products in this world 'requiring' pre-payments and commitments but CERTAINLY NOT products of this ilk.

As far as Cinepro being reputable, etc. - their now walking away with the pre-payments pretty much show the whole show was pretty much non-reputable.

$4400 is enough money for mortals that anyone paying it or asking for it should set up a legitimate escrow-type system.

 

[Jack Kelsey]

And no 'going' company needs to factor any 'financing' parameters into 'accomodation sales' - the sales price at an accomodation level are WELL OVER any 'cost' price in any case - so this aspect is all just hot air.

And any company keeping pre-payments for non-deliveries is acting in a totally immoral way. All such payments are always returned by any reputable company - long before the copy machines and last box of used staplers are seized and/or auctioned off.

And it is even more ridiculous for a sinking company to burn off contacts within the industry - indeed people who may be needed on a corporate or individual basis to help in the future.

The whole thing sounds like it plain stinks.

 

[Sanjay Gupta]

All I know is Cinepro sure made some great amps and this is really bad news for me. I have been planning on buying a Cipro amp but just was not ready yet to make the purchase. Looks like I won't be able to buy one at all now. :frowning:
Sanjay

 

[randy bessinger]

Whether it is true or not, I don't know but a dealer told me (and the other forum-avs) is saying they are being bought by Jade Industries-an OEM manufacturer.

 

[Bill Lucas]

Jack,

Do you know what you're talking about or are you making it up? I suspect it's the latter. I'll reiterate, if a manufacturer makes an accomodation for another manufacturer he gets prepaid.

As to the buy price in relation to cost? It appears that you are speaking of my cost as a dealer. Your speculation could not be further from the truth.

 

[Jack Kelsey]

No - I am talking about 'manufactured/factory' actual cost.

And NO reputable manufacturer NEEDS to have a few accomodation units pre-paid.

If their financing is so flimsy where this would make ANY KIND of difference in their cash flow then they are in pretty bad shape.

The ONLY 'real' reason for pre-payment is for manufacturing CUSTOM units - polka dot front panels, etc. Anything else is just unnecessary and done only for convenience of the manufacturer.

The REAL problem seems to be nicely danced around here - if Cinepro is 'in trouble' they should already be RETURNING any pre-payments before any bankruptcy procedings locks them up. that is the ONLY 'right thing' to do!!

 

[RobertR]

Well, the thread over at AVScience has some posts saying that Cinepro is about to be purchased by another company in early November, and that it will keep operating. We shall see.

 

[John A. Casler]

It would seem that Jack lives in a different economic world than the rest of us, where he receives items before payment.

Almost "ALL" purchases are prepaid or secured by a contractual promise to pay.

Jack, you have no idea of the time frame or the circumstances. I beleive he sent a check expecting rapid shipment and it did not occur.

Lets see you get a $4000 amp sent without paying in advance.


John

 

[Jack Kelsey]

OK - agreed - I have been answering in the vein that this was some kind of pre-payment/pre-manufacturing deal. Sorry for any misunderstanding!

But please do accept my comments as having some validity where 'pre-manufacture' deposits and payments are asked for - and required. This practice is absolutely wrong - except where custom production requested. (Or you yourself are willingly wishing to help fund some 'garage-style' manufacture - but then one has to be willing to 'lose'.)

On the other hand, for 'legitimate' purchases - it is always prudent to either pay with a credit card or request delivery with some kind of system that requires an item to be delivered (COD, etc.)

 

[Daniel_M]

This is really bad news. I've been
saving for three years to buy a Cinepro
3K6III and now that I'm finally ready
to order I read this. You can't buy
6x400 watt amp in Cinepro's price range
that I know of- and I've looked. Very
sad. I can only hope someone buys the
company and starts shipping product again.