Although the specific details and terms of the filing currently remain undisclosed, JH Audio Founder Jerry Harvey has issued the following statement: “The recent global pandemic created unparalleled challenges for businesses across the nation, and our company was no exception. Despite the resilience and determination of our team, the prolonged closures within the music and live sound industry, combined with reduced customer traffic, made it increasingly challenging to sustain normal business operations.
“In those unprecedented circumstances, we sought financial assistance through federal loans. Unfortunately, the complexity of the federal loan terms and the uncertainty surrounding the economic recovery have posed additional hurdles on us, and after careful consideration and exploring all other available options, we have made the decision to file for Chapter 11 reorganization protection.
“This is not a decision we have taken lightly, but it was a necessary step to restructure our financial obligations to allow us to get back to developing and managing the business. I am extremely grateful to my employees, customers, and partners for their unwavering support at this time.
“My priority is to repay their support and emerge from this process as a stronger and more resilient business. Our drive to innovate has never been stronger with new products coming to market, like the pioneering Pearl micro speaker processor and other industry- and workflowchanging technologies.
“Be assured through this process that the business will continue to operate, and all customer commitments and obligations will be honoured.”
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