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KA9LCF > NEWS 24.08.12 21:55l 36 Lines 1300 Bytes #999 (0) @ ALLIN
BID : 38193-KA9LCF
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Subj: ARN: Radio Business
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Sent: 120824/0508Z 38193@KA9LCF.#NEIN.IN.USA.NOAM [169278]FBB7.01.35 alpha $:38
From: KA9LCF@KA9LCF.#NEIN.IN.USA.NOAM
To : NEWS@ALLIN
RADIO BUSINESS: HEATHKIT FILES FOR BANKRUPTCY
The Herald-Palladium newspaper says that the remnants of the
famed Heathkit Company that once employed up to 1,800 people
in St. Joseph Township, Michigan, is now on the auction
block.
Owner Don Desrochers told the paper that the company, which
was down to half a dozen employees at the end, defaulted on
its lease and has filed for bankruptcy.
The organization was last known as Heathkit Educational
Systems. Desrochers told the Herald-Palladium that this
business was primarily dependant on federal and state
funding for schools. Unfortunately, spending in education
continued to drop and as such it was economically unfeasible
to continue operating.
Founded in 1926 as an aircraft company, Heathkit shifted its
focus to electronics after World War II when it bought
surplus electronic parts to build kits. Heathkit left the
kit business in 1992, focusing on educational materials,
then announced it was getting back into the kit business in
2011. According to Desrochers it was losing the
educational business faster than it could grow the
electronics business, which was not sustainable.
(Published news reports)
Editor's Note: This is a very sad day for Amateur Radio. - KA9LCF
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