Cadac Electronics goes into administration

News

Rob Hughes Jun 9 2008, 4:11pm

Directors hope for buyers so that production of S-Digital and service of existing desks can continue

After forty years of operation, the directors of Cadac Electronics have today announced that the company is to be placed into administration following a sudden and unexpected fall-off in anticipated sales of the company's analogue products in the coming months. Anthony Kent of Maidment Judd, Harpenden, has been appointed as administrator.

Having recovered from its financial difficulties of the last three years, Cadac was close to putting its new digital console into production to fulfil an anticipated order book of approximately £2m. The directors are hopeful that buyers can be found for Cadac, as not only is the S-Digital console approaching production, but also the sales, service, refurbishment and new production of Cadac's analogue desks, such as the J-type, is an on-going business.

"It is heartbreaking to see this great company go under at this stage,” said Managing Director, Bob Thomas. “Although additional bank finance had been put in place to complete the S-Digital development and to get its production under way, the sudden slump in forecast analogue sales over the next few months meant that Cadac would be unable to maintain the underlying cashflow necessary for its survival. Sadly, unless we can find a buyer for the company, the S-Digital, which is thought by many to be the best-sounding digital console ever developed, will disappear, along with Cadac."
cadac-sound.com