Recoton, the former parent company of speaker company NHT, filed chapter 11 bankruptcy today.
Recoton is a publicly held company that owns brands like Acoustic Research and Jensen among others.
Recently Recoton sold off the NHT brand to car audio manufacturer, Rockford. In published statements, Recoton’s CEO said that they will “seek to sell Recoton’s assets.†Recoton’s stock has plummetedover time from a high of around $6 per share to about 20 cents.
Source: CBS Marketwatch, Twice.com
