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Old 02-19-2005, 02:41 PM   #1
cwareing
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Default OT: A&B Sound filing for bankruptcy

I have a source that says A&B has gone bankrupt. That leaves only Future Shop and Best Buy to fight it out, although it won't be much of a fight since Best Buy owns Future Shop. I guess cd's and DVD's won't be getting cheaper anytime soon.

I apologize if this is common knowledge already.

What have you guys heard? What do you think?

Chris
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Old 02-19-2005, 03:27 PM   #2
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I heard there are American buyers ready to buy out the A&B Sound franchise. Funny thing is that Visions is lately misleading people into thinking they are liquidating old A&B stock.
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Old 02-19-2005, 03:58 PM   #3
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Hmmm I have a $55 credit with A&B sound for a warranty inspection I was thinking of declining the warranty and asking for the $$.. I wonder if it's too late.. Time to go visit!!
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Old 02-19-2005, 04:31 PM   #4
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A&B sound going bankrupt eh? Well, welcome to about 2-3 weeks ago.

This is common knowledge to anyone who pays attention to the news on TV and radio.

Sad to see them go, but that's the way the market goes. I guess the vultures (like myself) are hoping to grap a late last-minute deal if A&B has a fire sale or something like that!

We'll see. They will prob. get bought out by someone. I'm surprised Visions is still up and running. Guess they must be doing something right against the big boys of FS and BB.

LaterZ!
Darren!!
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Old 02-19-2005, 04:40 PM   #5
cwareing
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Ya, I realize it's common knowledge now, guess I should have posted when I originally heard about it, back in November. Got a buddy in the business.

I don't know how visions is staying in business. Must be a drug front or something. They really don't have anything that FS or BB can't beat. Don't ever try to finance anything through visions either, it's like a loan shark. They make it so it's basically impossible to pay off the loan. I know a buy that ended up having to take out a personal loan to pay off the visions financing because it was getting too ridiculous. You live, you learn I guess.
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Old 02-19-2005, 04:53 PM   #6
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There is an American investment company trying to buy it, but Best Buy is also trying to buy it. They state that they will continue to operate A&B independently if they get it, but I think the days of the cheapest CD's in North America are over. There is also a third company trying to buy it, but I can't remember the name. The whole thing was detailed in the papers about a month ago, but I don't know what's going on with it now. I guess they are elbows deep in the financial analysis now.
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Old 02-19-2005, 06:52 PM   #7
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Haha i was just at A&B sound downtown today... very little customers inside...
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Old 02-19-2005, 08:05 PM   #8
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Quote:
Originally Posted by Penphoe
I'm surprised Visions is still up and running. Guess they must be doing something right against the big boys of FS and BB.
They bait-and-switch like nobody's business. Check out their flyers: $80 27-inch TVs! At least 10 per store! Crap like that.
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Old 02-19-2005, 09:15 PM   #9
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I heard that BB bought out A&B?

And yeah, the A&B in coquitlam has been looking bare for a while now..people are actually buying the subs off the display walls..haha
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Old 02-19-2005, 09:51 PM   #10
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As an employee at A&B Sound this is what i've heard:
-50million $ in debt
-we are in a Canadian creditor agreement act protection
-the deal with Sun Capital isn't final yet but $500 000 will be lost if it goes to another bidder, some sort of contract
-Seanix (in Richmond) is the other bidder
-BB can't buy us, government ruling
-we will find out on the 22nd who actually gets the bid and managment will change over
Ryan
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Old 02-19-2005, 11:23 PM   #11
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Ryan keep us updated on the situation, and if there's going to be a fire sale.
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Old 02-20-2005, 10:10 PM   #12
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WHY WOULD ANYONE BUY ANYTHING AT FUTURE SHOP. SALES PEOPLE KNOW D...K ,CUSTOMER SERVICE SUCKS, AND TRY GETTING THEM TO HELP YOU OUT WITH WARRANTY WORK.
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Old 02-20-2005, 10:23 PM   #13
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Quote:
Originally Posted by MoonDougie
WHY WOULD ANYONE BUY ANYTHING AT FUTURE SHOP. SALES PEOPLE KNOW D...K ,CUSTOMER SERVICE SUCKS, AND TRY GETTING THEM TO HELP YOU OUT WITH WARRANTY WORK.
It works quite well when you know the manager and a few technicians at a location they go out of their way to help me out and give me discounts haha
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Old 02-20-2005, 10:32 PM   #14
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FS, a good place to get a price and take that price and buy elsewhere. I am no electronics guru but whenever I speak to a salesman there I usually know 10X what he knows. Can't help but speak to them as they tend to follow you around like a whipped puppy dog.
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Old 02-20-2005, 10:40 PM   #15
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Quote:
Originally Posted by MoonDougie
FS, a good place to get a price and take that price and buy elsewhere. I am no electronics guru but whenever I speak to a salesman there I usually know 10X what he knows. Can't help but speak to them as they tend to follow you around like a whipped puppy dog.
I know what u mean.. usually in the computers department.. they're completely useless.. I remember one guy trying to convince me to buy this overpriced eMachines laptop just because it had a bigger screen than the Sony one I was interested in (it didn't matter that there was only a $300 price difference, the sony had a processor about 1GHz faster and a 64 mb ATi Radeon graphics card as opposed to a lousy 32 mb one in the eMachine) my advice? do your homework first and then tell the sales guy to back off.. then you find the least annoying guy once you've made your decision and let him get the comission well... thats my .02 anyway
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Old 02-21-2005, 01:58 AM   #16
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Quote:
Originally Posted by MoonDougie
WHY WOULD ANYONE BUY ANYTHING AT FUTURE SHOP. SALES PEOPLE KNOW D...K ,CUSTOMER SERVICE SUCKS, AND TRY GETTING THEM TO HELP YOU OUT WITH WARRANTY WORK.

That's why you come on over to Best Buy
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Old 02-21-2005, 11:59 AM   #17
lummer shawn
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Quote:
Originally Posted by cwareing
I have a source that says A&B has gone bankrupt. That leaves only Future Shop and Best Buy to fight it out, although it won't be much of a fight since Best Buy owns Future Shop. I guess cd's and DVD's won't be getting cheaper anytime soon.

I apologize if this is common knowledge already.

What have you guys heard? What do you think?

Chris

this was all over the major canadian news networks a few weeks ago.
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Old 02-21-2005, 12:21 PM   #18
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Aw, I love A&B, the prices are sooo much better than the other places. But maybe due to all the mp3s stuff happening it's harder to focus on selling cds. At least Future Shop and BB has computers, etc.
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Old 02-21-2005, 04:01 PM   #19
420WRX
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Hahaha.. This is news for someone who doesn't watch TV and doesn't read newspapers.. Me!
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Old 02-21-2005, 06:40 PM   #20
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Quote:
Originally Posted by MoonDougie
WHY WOULD ANYONE BUY ANYTHING AT FUTURE SHOP. SALES PEOPLE KNOW D...K ,CUSTOMER SERVICE SUCKS, AND TRY GETTING THEM TO HELP YOU OUT WITH WARRANTY WORK.
What's wrong with FS??

As far as I know, the staff (at the bridgeport location) are pretty friendly, asking me if I need any help when I was just browsing thru some DVDs... Also the stereo dept rep was very patient when I wanted to try 3-4 diff headphones for my iPod. Not to mention he actually went and ask around if anyone has a Trance/house CD for me to demo on a regular hifi, when he couldn't find one, he asked me to pick one out at the CD section and opened for me to demo!!

Maybe it is just that particular outlet that sucks??
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Old 02-21-2005, 08:16 PM   #21
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the surrey/kingsway/coquitlam ones suck... its the employees that make/break a store's reputation and that bridgeport one sounds great.. I liked that a & b sound on kingsway though.. great service and they let me return a top of the line magnesium sony discman (back when cd players were 'cool') a week later because I had 'second thoughts about the product'... outrageous installation prices though for car stuff (audio/alarm)
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Old 02-21-2005, 11:32 PM   #22
MoonDougie
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[quote=STi-Mulation]What's wrong with FS??

THEY SUCK !!!!!!!!!!!!!!!!!ALL OF THEM
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Old 02-22-2005, 12:58 AM   #23
cwareing
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[quote=MoonDougie]
Quote:
Originally Posted by STi-Mulation
What's wrong with FS??

THEY SUCK !!!!!!!!!!!!!!!!!ALL OF THEM
Gee, why don't you tell us how you really feel.
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Old 02-23-2005, 02:32 PM   #24
Diane
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Update for those who havn't heard yet.
A&B was bought out by Seanix (still canadian) and they will re-introduce computers back in all chains. Also most of the A&B stores will become franchise now.
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Old 02-23-2005, 02:38 PM   #25
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Diane: you work in Hq of A&B?
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