Oooof.
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Thought weād be getting some sweet fanatec liquidation deals.
It doesnāt always happen. The dealer who used to sell the original Gillards sent all his stock to a guy in Mexicoš
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Iād imagine this isnāt over. They pretty much owned that market. Wonder what did them in, overly optimistic expansion?
Endorās high debt-to-income ratio ā owing ā¬95m ($103m) compared to ā¬100m ($108m) of annual sales.
Ok but itās only 100m which is a lot but they are doing that in salesā¦
Itās a debt that Endor blames on management mis-steps over the last few years, citing an āoversized constructionā of a new company HQ, errors in chip and merchandising orders resulting in a loss of value in assets, and a curious, unspecific note of āfailures to introduce processes and systems worth millionsāā¦
Ok maybe the aeron chairs werenāt necessary
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I think the sim racing bubble popped. Intel laying off a bunch of employees too after too rapid of growth during COVID.
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Yeah it was a crazy ride while it was happeningā¦ Plus once you buy a wheel most of us hold onto it forā¦ 3,4,5 even six years?
Reminds me of the challenge gopro hadā¦ people only need so many cameras.
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Fanatec themselves got greedy. For a very long time they were THE name in quality consumer simulator wheels/pedals/etc. They priced themselves above the market and others encroached and gained market share during the boom. When the slowdown came, they no longer had enough volume to be viable.
My son is an AVID sim racer and told me this was coming for months. He kept seeing Fanatec trying to cut prices and move product and kept saying they got greedy and now people have other options.
When he upgraded his wheel he went Moza instead of Fanatec becuase of price point.
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