Is it true Genesis is out of business?


I have heard this several times in recent months, and some people have found their website unavailable, but I have accessed the website often recently w/no problems. I think my Genesis 500's are the best speakers I have ever owned--of course, I haven't owned 'em all or heard 'em all, but these have remained in a constantly changing system for 5 yrs and I still love hearing them. If it's true that Genesis is folding, I'd look for great deals on the newer model 501's and other Genesis models. I've had several people lately tell me to stay away from Genesis, given their financial situation, but if I can get some of their speakers for huge discounts, why should I stay away? Is it because of warranty issues? My 500's have been perfect, and couldn't someone else fix a faulty speaker for me (for a price, of course) anyway? I have never had to use the warranty on a speaker, maybe that's just good luck, but I have never had one blow or melt or anything. Any other reason not to buy Genesis speakers at huge discounts, if possible?
sc53

Showing 1 response by sternart

I've had tremendous difficulty with them this past year trying to have a woofer amp repaired, then ended up having to buy a new one and wait months for that...then wiring problems, took months of frustration to resolve.....bottom line is the speakers sound FABULOUS, but the company must have been on the edge for awhile, they were quite unreliable. I hope Arnie gets another investor & Genesis is revived from the ashes....but as I understand it they are no longer in business.