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The insolvent Alpha Pianos has been closed

January 31, 2019

The company does not continue its work, reported to liquidator Walter Anzböck after Tuesday's negotiations. "Nevertheless, talks are still going on with investors who may want to finance a recovery plan," Anzböck said on APA's request. 

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Bankruptcy proceedings were opened in November for the assets of the company based in St. Andrä-Wördern (Tulln district). 28 creditors were reported to be affected and employees were no longer employed at the time. Assets of 140,500 euros - the majority of them patent rights - stood opposite creditors' liabilities of 880,000 euros. According to the liquidator, the bankruptcy estate was insufficient to meet the mass requirements. Due to the mass inadequacy, the closure was ordered. 

The main reasons of the bankruptcy were that the "Alpha Studio" - Piano proved to be too expensive for end customers, so that only seven of them were sold. Another development, the "M-Piano", was only produced in a pre-series, but could not be brought to market. Alpha Pianos had made a hybrid piano in 2016 at the request of Prince, the pop star died before delivery and could no longer receive the metallic violet painted instrument. It was played at the Prince Memorial Concerts in the US and auctioned in July 2018.

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