Ambertech brand Onkyo Corporation is insolvent and desperately looking for a solution to keep the business from bankruptcy.
The Tokyo Stock Exchange has given the Japanese Company whose products are sold at Harvey Norman a limited window to get their affairs in order before a forced delisting from the JASDAQ stock exchange is implemented.
The Company recently announce a massive decline in revenues and record losses due in part to COVID-19.
The company blamed several variables, including COVID-19, for their dismal results in the last fiscal year.
A major concern is that one of their large factories in Malaysia was forced to close down by the Malaysian Government with the Company complaining that despite the forced closedown they were sti…
Read the full article at: https://www.channelnews.com.au/exclusiveonkyo-insolvent-struggling-to-stave-off-bankruptcy/
