Modal Electronics is Now in Administration for Insolvency
Modal Electronics, UK synth company, is in administration for insolvency, according to UK government records.
The company was incorporated in 2013, and in the last decade has released a wide range of synths, including high-end keyboards like the Modal 002, Eurorack modules, the budget CRAFTsynth line, the portable SKULPT synthesizer, and the Argon8 and Cobalt8 keyboards.
In March of 2023, the UK Companies House – the organization that registers company information and makes it available to the public – gave first notice of plans to strike Modal Electronics off their register. This action was suspended, though, in April.
Today, though, Companies House gave notice that Modal will be struck off the register and dissolved after 2 months, unless cause is shown to the contrary. Unaudited financial statements published earlier this year show liabilities exceeding assets.
Modal is now in administration, which means that it’s now controlled by an insolvency practitioner, who will be responsible for trying to resolve the company’s situation or liquidating it.
via YakumoFuji
