Paul McCartney, Höfner 500/1 Violin Bass in hand, performing with Ringo Starr. Photograph Credit score: Raph_PH
Höfner, the 138-year-old firm greatest identified for making Paul McCartney’s famed Violin Bass, has “filed for insolvency” and is now looking for “a robust associate to…safe enterprise operations and jobs in the long run.”
Hagenau, Germany-headquartered Höfner introduced the information in an Instagram publish final week. However the easy message solely not too long ago began gaining stateside media traction – partly as a result of Paul McCartney himself voiced help for the corporate.
“It is vitally unhappy to see Höfner exit of enterprise,” McCartney wrote on Instagram. “They’ve been making devices for over 100 years, and I purchased my first Höfner bass within the sixties. I’ve beloved it ever since.
“It’s a beautiful instrument to play: light-weight, and it encourages me to play fairly freely. It additionally provides pleasing variations in tone that I get pleasure from. So, commiserations to everybody at Höfner, and thanks for all of your assist through the years,” the Beatles legend concluded.
Again to the assertion from Höfner, the corporate confirmed “going by way of a tough interval – particularly because the introduction of the US tariffs.” Consequently, it “filed for insolvency on” Thursday, December eleventh.
(A sidenote on the tariffs and potential restructuring: Per its web site, Höfner after being offered by Music Group in 2004 “invested extra closely in its abroad manufacturing facility.” Particularly, a “department workplace in Beijing is 100% Höfner,” not a three way partnership, and has “a grade A export license.”)
As described by Höfner, it’ll be about three months earlier than the chapter course of kicks into excessive gear; manufacturing and distribution will proceed within the interim, in line with the enterprise.
“In Germany, there’s a three-month interval earlier than the precise insolvency process is opened,” Höfner wrote right here. “This era provides the chance to consolidate the corporate and restructure it for a greater future.
“Inside this era, we’ll proceed to construct and promote our devices and the Höfner group is doing its greatest to give you the help, service and warranties you count on,” the corporate continued.
With that, the approaching months ought to reveal how issues play out for Höfner, which, as famous by Guitar World, was technically a division of Boosey & Hawkes earlier than being offered to the aforementioned Music Group.
From there, longtime Höfner GM Klaus Schöller and his spouse Ulrike Schrimpff purchased the enterprise. Per Guitar.com, Schöller in a follow-up launch confirmed that his firm’s “objective is to work with a robust associate to place the Höfner model for the long run and safe enterprise operations and jobs in the long run.”
In the meantime, the identical launch pointed to turnover of €6.5 million (presently $7.7 million) – with about 65% of the sum stemming from Höfner’s exports – and acknowledged the instrument-manufacturing impression of a “tense total financial state of affairs.”
