Doors were closed on 19 February and insolvency practitioners have been instructed. The company has blamed the decision on a failure to cope with increased outgoings.
"In the last 12 months we have seen our turnover increase to approximately £6 million, and our infrastructure and costs have grown accordingly,” explained owner Peter Knowles. “It is fair to say that we became overstretched and could not continue to support this level of overhead.”
Total Audio Post, the company responsible for the exclusive distribution of Fairlight products in the UK, is said to be unaffected.
Knowles has since started trading under a new company name, Total Audio Projects, which is already open for business. It has taken on 12 of the company's 16 staff and is based in one of the original company's three office units. The two remaining units will be sold.
Knowles said: “As a company, we understand that our customers need to maximise the life of their equipment and installations and wring every last ounce of value from everything they purchase in order to maintain their businesses.
"I have always been very proud of our level of expertise and intended level of service, but the growth curve we have experienced has occasionally led to me being disappointed because I felt we were being spread too thin. The changes we are now experiencing are a direct result of us trying to address these issues.”
The new company hopes to continue to support all its existing customers and installations under its new banner.
“Total Audio Projects has a substantial order book that will keep us busy for many months to come,” continued Knowles. “We hope that by taking prompt action to reduce costs and overheads, we can continue to offer a good service to our many customers and suppliers, and maintain our reputation for delivering impressive installation projects.
Total Audio Solutions distributed products from Sound Devices, Roland and Sony.
Based in Redditch in Worcestershire, the company specialised in supplying professional audio equipment to broadcasters, sound recordists, post houses and outside broadcast facilities.