Has Creamware gone bankrupt?

Ashkenazy · Post by **Ashkenazy** » Fri Jun 13, 2003 10:43 am

Is it true what I heard. Has Creamware gone bankrupt???

[ This Message was edited by: Ashkenazy on 2003-06-13 15:40 ]

kimgr · Post by **kimgr** » Fri Jun 13, 2003 12:03 pm

No, it's not true...
http://www.creamware.de/en/Home/news/06_06_03.asp

[ This Message was edited by: kimgr on 2003-06-13 13:07 ]

Ashkenazy · Post by **Ashkenazy** » Fri Jun 13, 2003 12:22 pm

Today I went to a music shop in the Netherlands "Infinity 4". I wanted to upgrade my Luna II to Pulsar II. He told me that Creamware had gone bankrupt, and that I'd better not do the upgrade because Creamware would disappear.

So this was all a lie? Why would a seller lie to me about it, doesn't he want to earn money then?

King of Snake · Post by **King of Snake** » Fri Jun 13, 2003 1:36 pm

I don't know what's up with people here in the Netherlands. First, Feedback (well known gear shop where I bought my Pulsar) stops selling Creamware stuff. Then I started hearing all sorts of crazy rumours on dutch forums about CW being in trouble (never any sources). Now this bankrupcy thing. Of course I try to put them right every time, showing them Creamware seems to be doing better than ever. I just don't understand why they al seem to think CW is doing so bad.

Ashkenazy · Post by **Ashkenazy** » Fri Jun 13, 2003 2:14 pm

I'm really confused now. I really wanted to do the upgrade. So I was very surprised by the story at Infinity 4 (Infinity 4 is also in the distributors list at the creamware site).

The main question to me now is: why did the man at the shop tell me that creamware is close on bankruptcy and thus disappearing?
He also said that it was because Creamware cards had become to old, that their cards didn't grow with the time and thus had become absolete. Also a reason for the Creamware bankruptcy was that they only sell a few products which wasn't enough to make profit.

So Creamware has ended forever..... or?

Has anyone in the Netherlands experienced the same at this shop?

[ This Message was edited by: Ashkenazy on 2003-06-13 15:29 ]

John Cooper · Post by **John Cooper** » Fri Jun 13, 2003 2:47 pm

Technically, Creamware HAS "gone bankrupt". Filing for insolvency in Germany is essentially the same as "Chapter 11" or bankruptcy in USA. It means they have started legal proceedings to protect them from their creditors (people to whom they owe money, including everyone who sells devices in the shops, etc).

This does NOT mean they are going out of business. It DOES mean that they are having financial troubles, and cannot repay their debts immediately. Part of the legal process establishes a way to STAY in business, while paying back their creditors over time (or finding a way to not pay them, as the case may be...)

So while it is bad news, that CW is having financial troubles (apparently due to Noah delays, as described in that article linked above), it does not mean that CW is disappearing. (at least as far as I understand it!!)

-John

Astral Fridge Magnet · Fri Jun 13, 2003 2:56 pm

I have also tried to get a new Pulsar card (I want to take advantage of the loyalty offer). I tried ordering one through Dikjman in Amsterdam and they have told me more or less the same thing, that Creamware is in the hands of bankers and could go bankrupt. The shop where I tried to order from won't pay up front for the card because there is a risk that they won't recieve the card because a company that is bankrupt must first pay its bills.
I am really disapointed by the state of affairs, especially in the music shops that don't show enough faith.
Creamware has an excellent product in the Pulsar and I absolutely love it, which is why I want another card. Plus time is running out for this "loyalty offer". Only two more weeks. I feel let down and I want my Pulsar.
Come on you shops in Holland. Show some faith!!!!
can anyone suggest an alternative solution. Are there any shops in England or anywhere else in Europe that can help out and provide a solution for Dutch users of Creamware products??

Please help!

AndreD · Post by **AndreD** » Fri Jun 13, 2003 3:06 pm

http://www.hamburg-audio.de

Ashkenazy · Post by **Ashkenazy** » Fri Jun 13, 2003 5:47 pm

Could I do the upgrade at your shop? I'd like to do that.

[ This Message was edited by: Ashkenazy on 2003-06-14 02:23 ]

doodyrh · Post by **doodyrh** » Fri Jun 13, 2003 6:17 pm

On 2003-06-13 15:56, Weirdo The Weird wrote:
Are there any shops in England or anywhere else in Europe that can help out and provide a solution for Dutch users of Creamware products??

Try
Turnkey in London. They're big enough to have one or two in stock.
http://www.digitalvillage.co.uk should too but they don't appear on the website.

astroman · Post by **astroman** » Fri Jun 13, 2003 6:41 pm

I've been through this several times when selling Apple stuff years ago - and Apple had never even been close to file for chapter eleven - that people entered the shop and wondered 'why are you here, Apple is bancrupt...'
People seem to like that kind of news, for whatever reason.
But even in the worst case it still would make sense to upgrade the card with more DSPs. It doesn't loose it's usability value for you.
Whatever they tell you about outdated or obsolete: there is NO, not a single company on this planet, not even Yamaha, Sony or M$Soft who have such a sophisticated piece of software like SFP.
It is a class of it's own, you cannot re-engineer this in a reasonable time or at reasonable costs. Period.
It might indeed happen that someone (see above) makes an offer to buy the technology, this is most certainly a tempting situation for several big players.
But this would finally establish the platform only further.
Imho it wouldn't be so hot for creativity and developement, so I'd rather prefer CW continues business.
cheers, Tom

RoonSmits · Post by **RoonSmits** » Fri Jun 13, 2003 7:21 pm

I bought my Pulsar II upgrade only 2 weeks ago at ¨Studio de Dijk in Alkmaar¨.

They did't even ask for the paperwork on the CW site and charged me 775,- Euro.

So maybe you should give them a call ?

Goodluck
Ronald

ChrisWerner · Post by **ChrisWerner** » Sat Jun 14, 2003 3:23 am

This is the right time to buy creamware stuff, you would help them to get out of their little trouble they have. Buy buy buy...

AndreD · Post by **AndreD** » Sat Jun 14, 2003 4:10 am

On 2003-06-13 18:47, Ashkenazy wrote:
Could I do the upgrade at your shop? I'd like to do that.

[ This Message was edited by: Ashkenazy on 2003-06-14 02:23 ]

yes, for shure...
info@hamburg-audio.de

Astral Fridge Magnet · Sat Jun 14, 2003 6:49 am

I would love to buy , but who is selling here in the Netherlands?

Post by **hubird** » Sat Jun 14, 2003 9:05 am

Eigenhuijsen Muziek Nijmegen
024-3770484
but I buy everything at Music Store Koeln Germany.
cheaper, perfect service, gear on wish returnable in a week or so, 2 year garantee, check everything on site, or order the free big big Catalogue.
cheerz

at0m · Post by **at0m** » Sat Jun 14, 2003 9:39 am

Frank from CW has some background on their chap11 status:

http://www.planetz.com/forums/viewtopic ... forum=10&1

Blackhole · Post by **Blackhole** » Wed Jun 18, 2003 4:37 pm

we are akk in denial. They brought it on themselves, to far to fast, shity updates that cut corners and rush out the next version without fixing the bugs in the previous version. Sad sad sad.

dehuszar · Post by **dehuszar** » Wed Jun 18, 2003 6:42 pm

On 2003-06-18 17:37, Blackhole wrote:
we are akk in denial. They brought it on themselves, to far to fast, shity updates that cut corners and rush out the next version without fixing the bugs in the previous version. Sad sad sad.

That was very helpful and informative. Thanks for sharing.

Sam

[ This Message was edited by: dehuszar on 2003-06-18 19:43 ]

Post by **garyb** » Wed Jun 18, 2003 9:41 pm

geez,a real no story.