According to official UK government data, Modal Electronics, a British synthesizer company, is currently in receivership due to financial insolvency.
Modal Electronics was established in 2013 and has, over the past decade, introduced a diverse range of synthesizers, including premium keyboards like the Modal 002, Eurorack modules, the cost-effective CRAFTsynth series, the portable SKULPT synthesizer, and the Argon8 and Cobalt8 keyboards.
In March 2023, the UK Companies House, responsible for registering and providing access to company information for the public, initially announced their intention to remove Modal Electronics from their register. However, this action was temporarily halted in April.
However, today, Companies House has officially declared that Modal Electronics will be removed from the register and dissolved in two months unless evidence to the contrary is presented. Earlier financial statements released this year, albeit unaudited, indicated that the company’s debts outweighed its assets.
It’s important to note that Modal Electronics’ official website currently does not mention the company’s financial difficulties, so this news remains unconfirmed at this time.
Update 21-09-2023 12:56 – We requested a response from a European distributor and this is their response: It is said to be a restructuring of the Modal Electronics company, not a bankruptcy.