SoundStage Direct

[Orchids1]

Vin, SSD’s website is now auto linked to something called Reverb LP. So, it looks like SSD’s assets were sold, probably in foreclosure, and it’s out of business. There isn’t any other plausable scenario. Rich

[Pevo]

The auto-link must have been implemented this morning. I was cleaning out my saved links yesterday and went to the SSD website yesterday and it looked exactly as it did months ago with no mention of the “issues”. I just tried again and got the Reverb website.

[tom collins]

It is always sad when something like this happens. Everybody loses, the employees who counted on the money each month, the customers who may get stuck having paid without getting their goods, the investors (no one ever feels sorry for them, but without them, nothing would get off the ground), even the banks. This is a hard business to make money in. He probably felt the first warning signs a year ago. He should have gone to his retail partners then. Maybe he did. Who knows. I personally never spend more than an album's worth of money at online stores.

[Dorian]

I had an unfulfilled order with them for over a month. I eventually cancelled it but they didn't issue a refund, so I had to file a grievance with my credit card company. I always use a credit card when shopping online, in case of any issues.

[miner]

Let's also feel for those manufacturers like VPI that had notes due.

[Orchids1]

Miner, Do you know that VPI sold merchandise on credit to SSD. That would surprise me. As a rule, when a vendor senses a buyer is in financial distress, the vendor requires cash payment at, or before, the time of shipment. This, of course, makes things much, much more difficult for the buyer, which then goes into a death spiral. Rich

[spinblackcircle]

Miner, Do you know that VPI sold merchandise on credit to SSD. That would surprise me. As a rule, when a vendor senses a buyer is in financial distress, the vendor requires cash payment at, or before, the time of shipment. This, of course, makes things much, much more difficult for the buyer, which then goes into a death spiral. Rich

I believe Mat had mentioned that SSD wasn’t paying their past due invoices and that they didn’t bill for 30 days after shipment or something like that. I’d have to guess it all happened so fast that their suppliers didn’t see it coming. Manley came out on Audiogon saying that SSD were deadbeats and not paying as well.