Recent (3rd of april) fin. statement
Ls,
Could we have a statement what this means for people still waiting for their orders and the risk of bankruptcy?
And RMA's? And expected customer service changes?
Or are these forums unmonitored and simply another mismanaged lightning rod?
Comments
The forums are not monitored from official sources who can tell anything about stuff like this.
That's a shame. Sounds like a very closed door policy, that usually never ends well.
And they are equally unreachable via any other means...
Doing a bit of a deep dive into german financial practices and the current pickle Fanatec/Endor AG is/are in. It doesn't inspire confidence, and seems to be a possible prelude to bankrupcy (that's a kind way of expressing it).
Not too stoked about that tbh, all my current gear is Fanatec and I don't feel like switching yet, but selling it all if they continue their incompetence in both communicating, updating and handling their problems as they are doing now. And soon.
The current issues seem indicative of all control lost, and the current bank statements seem 1 technical step away from liquidation. Crap.
I am sure the youtube grinding community will soon fill their bellies by pooping out a lot of content about it.
Edit: I feel genuinely sad for those still waiting for their orders 😐
Oh, to avoid confusion;
I am talking about todays statements. Not the previous ones about the management changes and such.
Which todays statements?
Latest news is from yesterday that the banks have agreed on the standstill-agreement running until 30th June. AFAIK nothing new today?!
When you see a bank tracking date up to June 30 and a share price in constant decline to 1.64 at the moment, it doesn't look good.
And I've injected €1,800, including €1,300 into a base that's not working, after already one rma return.
And given the time it's taking to solve all the problems we see on this forum, it doesn't look good.
Customer anger is mounting but nothing concrete is being done.
This One?
https://endor.ag/2024/04/02/endor-ag-confirmation-on-standstill-agreement-with-lending-banks/?lang=en
Thats yesterdays news though, not todays (which I am not aware that there even is something new from today...).
But yeah most likely OP means that news I guess.
Hopefully it’s not all doom and gloom and it’s all about taking steps to adjust the company set up to reflect the new market trends. Fanatec had done well for years since covid and the release of GT7. Looking at Q3 last year they made a loss but having made so much a number of years before, hopefully won’t be a case of the company going into administration.
just needs a financial reorganisation to adapt to current market ??