LRP Going Out Of Business In March
After announcing bankruptcy last August, LRP has put out a press release that it will be Closing Its Doors at the end of March. LRP has been searching for a buyer for several months and none has been found, thus resulting in a March 31st 2018 closing date. Once again we are saddened to hear more bad industry news, here is the official statement-
“LRP electronic GmbH and Associated Electrics, Inc. would like to announce a change in distribution for the Team Associated and Reedy brands.
The bidirectional collaboration between LRP electronic GmbH and Associated Electrics, Inc. stands out as one of the most successful partnerships in the R/C industry’s history. After cooperating to win countless World Championship titles, the successfully shared sales and marketing efforts will come to an end.
Starting February 1st, 2018, LRP electronic GmbH will not be the exclusive distributor for Team Associated and Reedy anymore.
LRP electronic GmbH will now sell off its stock of Team Associated and Reedy products. All warranty and service for Team Associated and Reedy products will be handled by the new Team Associated and Reedy distributors starting February 1st, 2018.
I would like to take this opportunity to thank you for the great support we have received from you in the recent months.
I regret to inform you that our promising investor process finally did not have a positive outcome, which results in the closure of LRP electronic GmbH on March 31st, 2018. Until then, business operations will continue normally with the existing workforce.
I, as the founder of LRP electronic GmbH, intend a new start for the LRP brand in new structures.
We will keep you informed about further developments.
Jürgen E. Lautenbach
LRP electronic GmbH”
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