Published on September 13th, 2019 | by The GC Team0
Mitchell and Johnson cites Brexit uncertainty for business closure
Audio brand Mitchell and Johnson, which was established in 2012, is to close following unprecedented pre-Brexit consumer confidence challenges.
In a statement released today, the company said: “We regret to announce that Mitchell and Johnson is to close for business with immediate effect. It is with great sadness that we announce the decision, which follows our significant investment transitioning from Far Eastern to British manufacturing, at a time of unprecedented decline in consumer confidence and spending due to ongoing Brexit uncertainty.”
In 2015, Mitchell and Johnson launched a crowdfunding campaign to raise £150,000 to help fund the next stage in the brand’s development. The business said it intended to use the investment to appoint additional global distributors and to finalise new product developments.
In July this year the company launched the new S800 CD player which it then said “flies the flag for specialist UK manufacturing in the Brexit era.” The unit was handmade in the Midlands.
Today the firm said: “We have worked tirelessly to establish ourselves in the global marketplace since launching in 2012 and have been incredibly proud to offer fellow music aficionados the myriad benefits of British designed and engineered products, following our commitment to UK manufacturing in late 2018.
“Tragically, we have been unable to reach sufficient global distribution fast enough to recoup our considerable investment in UK production and sustain our overheads.
“We would like to take this opportunity to thank our customers for being with us over the past few years.”