Bankrupt

[Gerald]

Of interest Teknatool US has declared Chapter 11 bankrupt. 

 

[lew]

I heard about this, too.

[Steve Krumanaker]

I saw this  earlier. I think they are a victim of their own success.

[Gordon]

Hoping they come out of it rather than fade away. 

[HandyDan]

Never a good sign.  Hope they pull through.

[kreisdorph]

This is only the US division of Teknatool. Teknatool global is not affected, I have read. I don't know how that will impact US sales. Certainly the news will steer people away from Nova for a period of time. 

[lew]

Just received this in an email-

 

This is the link from the email-

https://www.teknatool.com/products/

 

[Gordon]

12 hours ago, lew said:

Just received this in an email-

It will be interesting to see how they market and handle direct sales.  Speaking for myself, when I was shopping for a lathe I pretty much worked the list down to either the Nova or the Rikon. A dealer somewhat close to me had both on the show floor. With that it was a tough call, but if one was there and the other had to be ordered I would be the proud owner of the Rikon instead of the Nova. 

[RustyFN]

The Woodcraft by me is very low on Nova chucks and accessories. They are filling the spaces with Rikon chucks and accessories.