RHA Audio Bankrupt?
Aug 4, 2021 at 11:47 AM Thread Starter Post #1 of 47
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TrueBlueGamer

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Hi everyone, recently I've noticed that RHA, the British audio company behind many well regarded iems, as some true wireless in-ears as of late, seems to be shutting down all their social networks accounts, not to mention delisting them from their own website.

I've been a costumer of their for some time now and wanted to know if anyone else noticed this too and what are your thoughts about it.

It's a real shame if they indeed are going bankrupt, hopefully it's not that case but I guess we will soon find out.
 
Aug 5, 2021 at 2:51 PM Post #3 of 47
shahkamil said:
I have been told they gone bankrupt.
I spoke to a few retailers who use to sell them.

I was wondering the same and come across this article from Google search.
Click to expand...
Damn, so it's true then. I was holding hope but I guess the signs have been there for a while.

I wonder what they could have done to stabilize their brand more in the market.
 
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Aug 5, 2021 at 4:48 PM Post #4 of 47
Sadly yes also there trust pilot reviews haven’t been updated for ages.

What signs have you seen?

What could they have done to stabilise? Look on Companies House search RHA Technologies it looks like without bank support they would be insolvent. They have many debts.

Also I feel there latest products haven’t been that great releases and sort of lost there way. Just my view.. and immense competition?

It looks as if “Lewis Heath (Co- Founder) perhaps a designer left a few years ago and the company started to slide perhals they was treading water and Covid finished them off?
 
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Aug 5, 2021 at 6:49 PM Post #5 of 47
By sign I meant the things I said in my first post, the delisting of their social accounts from the main website, the closure of said social accounts. There's also the journal section on their website where they would, at least once a month, write something related to their products, technologies or music in our day to day life but even that stopped mid April I think.

I also don't know if focusing only on TWS devices was such a great idea too, I mean I bought a pair of TrueConnect 2 just out of curiosity but they severely limited themselves only to that market and unfortunately it's a market that's even more crowded than the wired iem industry I think. Their launch of the TrueControl ANC was also poorly thought out I think, no review copies to Youtubers severely limited acknowledgement on the product for months.

It's sad when contrasting the case of a brand like Sennheiser with their recent iems. Being a headphone only company, I'm sure creating iems during these last 10 years hasn't brought them much profit but they seem to finally catch up with the rest of the industry and are finally a brand on par with the best with their IE 300/900 line of products.
 
Aug 6, 2021 at 12:05 PM Post #7 of 47
TrueBlueGamer said:
By sign I meant the things I said in my first post, the delisting of their social accounts from the main website, the closure of said social accounts. There's also the journal section on their website where they would, at least once a month, write something related to their products, technologies or music in our day to day life but even that stopped mid April I think.

I also don't know if focusing only on TWS devices was such a great idea too, I mean I bought a pair of TrueConnect 2 just out of curiosity but they severely limited themselves only to that market and unfortunately it's a market that's even more crowded than the wired iem industry I think. Their launch of the TrueControl ANC was also poorly thought out I think, no review copies to Youtubers severely limited acknowledgement on the product for months.

It's sad when contrasting the case of a brand like Sennheiser with their recent iems. Being a headphone only company, I'm sure creating iems during these last 10 years hasn't brought them much profit but they seem to finally catch up with the rest of the industry and are finally a brand on par with the best with their IE 300/900 line of products.
Click to expand...
I have a friend who lives close to there offices went and drove past said it was all closed up so that confirms it now officially 😢
 
Aug 6, 2021 at 12:17 PM Post #8 of 47
shahkamil said:
You should Google companies house and search Rha technologies this will help you understand why they went under I think.

Terrible financial situation and lots of debt along with big losses.
Click to expand...
I went and found the site you mentioned and if it is true they were indebted at least with 4 banks it seems. Damn, I only wish now that the staff can somehow pull through this.
shahkamil said:
I have a friend who lives close to there offices went and drove past said it was all closed up so that confirms it now officially 😢
Click to expand...
Guess we will never see the rumored CL3 or any other projects they teased last year on their journal section. =(
 
Aug 6, 2021 at 1:57 PM Post #9 of 47
TrueBlueGamer said:
I went and found the site you mentioned and if it is true they were indebted at least with 4 banks it seems. Damn, I only wish now that the staff can somehow pull through this.

Guess we will never see the rumored CL3 or any other projects they teased last year on their journal section. =(
Click to expand...

they borrowed too much when the times were good, they didn’t prepare for the storm.
 
Aug 6, 2021 at 3:09 PM Post #12 of 47
One of their folk - 'is a businessperson who has been the head of 5 different companies. Currently, he holds the position of Independent Non-Executive Chairman of Beeks Financial Cloud Group Plc and Chairman of Concurrent Technologies Plc.

He is also on the board of Wolfson Dynamic Hearing Pty Ltd. and RHA Technologies Ltd. and Member of The Association of Corporate Treasurers.

In his past career Mark Cubitt occupied the position of Chairman at BEAR Scotland Ltd., Chairman at Scottish Finance Directors Group, Finance Director for Dawson International Plc, Independent Non-Executive Director at Superglass Holdings Ltd., Chief Financial Officer of Denholm Oilfield Services Ltd., Finance Director at Babtie Group Ltd., CFO, Executive Director & Finance Director at Cirrus Logic International (UK) Ltd., Member of ACT 2013 Ltd., Principal at Christian Salvesen Plc, Vice President for Jacobs Engineering Ireland Ltd., Vice President-Finance at Jacobs U.K. Ltd., Principal at KPMG LLP, Principal at Aggreko, Inc. and Controller of Jacobs One Ltd.

Mr. Cubitt received an undergraduate degree from Heriot-Watt University.'
 
Aug 6, 2021 at 3:17 PM Post #13 of 47
Bytor123 said:
One of their folk - 'is a businessperson who has been the head of 5 different companies. Currently, he holds the position of Independent Non-Executive Chairman of Beeks Financial Cloud Group Plc and Chairman of Concurrent Technologies Plc.

He is also on the board of Wolfson Dynamic Hearing Pty Ltd. and RHA Technologies Ltd. and Member of The Association of Corporate Treasurers.

In his past career Mark Cubitt occupied the position of Chairman at BEAR Scotland Ltd., Chairman at Scottish Finance Directors Group, Finance Director for Dawson International Plc, Independent Non-Executive Director at Superglass Holdings Ltd., Chief Financial Officer of Denholm Oilfield Services Ltd., Finance Director at Babtie Group Ltd., CFO, Executive Director & Finance Director at Cirrus Logic International (UK) Ltd., Member of ACT 2013 Ltd., Principal at Christian Salvesen Plc, Vice President for Jacobs Engineering Ireland Ltd., Vice President-Finance at Jacobs U.K. Ltd., Principal at KPMG LLP, Principal at Aggreko, Inc. and Controller of Jacobs One Ltd.

Mr. Cubitt received an undergraduate degree from Heriot-Watt University.'
Click to expand...

Lost his touch? They’ve taken too much debt poor management decisions? Too much competition? Time to sell my RHA collection before it becomes worthless.
 
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