We wrote earlier this week about the official declaration of bankruptcy that Vestax is going through in Japan, but now there’s reason to believe that the brand won’t fizzle out or even get sold. The US distributor for Vestax, Mixware, sent over a new update from the Vestax team in Japan.
“The bankruptcy procedure was a necessary first step into the rebuilding of Vestax Japan and Vestax brand. Measures, engineering team, new product designs and financial support are already in place to support the rebuilding process and more information will be published by Vestax Japan during the course of the first semester 2015.”
This is great news for fans of the company’s mixers, turntables, and controllers – but going bankrupt is often a long and consuming process for companies, as acknowledged in the second half of the update:
“This process will definitely take some time before the first new Vestax products reach the worldwide markets but we’re confident that once again under the leadership of its original founders, Vestax will soon reemerge as a strong innovative brand as it has always been.”
Note the mention of “leadership of its original founders” – this would indicate that a sale or complete change in ownership is not in the plans.
Keep your eyes on DJTT – we’ll keep you updated as the Vestax bankruptcy story continues to slowly unfold.