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Bankrupt

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Of interest Teknatool US has declared Chapter 11 bankrupt. 

 

image.png.6ac5535d61a3d712e43503046bd0607a.png

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

Hoping they come out of it rather than fade away. 

Never a good sign.  Hope they pull through.

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. 

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. 

  • 2 weeks later...

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

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