[Viewpoint] Even Cabasse is going through a period of great financial crisis

Despite constant claims (from members of the industry/press) that everything is fine and that the Hi‑Fi market has never been more lively, new information continues to emerge that blatantly contradicts this curious narrative. After MBL, Krell, Auralic, Cocktail Audio, Devialet, and other important companies, the historic French brand Cabasse is now also facing a severe financial crisis - so much so that trading of its stock has been suspended.

Cabasse, founded in 1950 by Georges Cabasse (who passed away in 2019), has long been one of the most popular and best‑selling audio brands in France, with considerable success abroad as well. Over the years, we have positively reviewed several Cabasse models, particularly the Sloop, Jersey, and Caprera.

In 2006, the brand was acquired by the Japanese multinational Canon Group. In 2014, the French group AwoX purchased Cabasse from Canon for €4.5 million. This acquisition temporarily revitalized the historic brand, including its image: strong emphasis was placed on the luxury and wireless markets, and production of high‑end speakers was brought back to France.

Later, in 2020, AwoX's lighting division was acquired by Eglo Leuchten GmbH, and the AwoX group was renamed Veom Group, bringing together Cabasse, Chacon, and DiO while refocusing activities on high‑fidelity audio and home automation. In 2022, Cabasse went public. Just a few days ago, on February 27, 2026, the company filed for insolvency and requested the opening of judicial reorganization proceedings at the Montpellier Commercial Court.

The convertible bond financing implemented in March 2025 was not enough to keep the company afloat. Negotiations with financial partners failed to reschedule the debt, making bank loans immediately payable. The causes appear to be linked to a sharp decline in business activity, particularly due to supply chain issues with major Asian suppliers. These tensions resulted in stricter payment terms, placing the company in an unsustainable financial position. The Montpellier court has yet to issue a ruling, but it is clear that the hope is to find new investors willing to restore the company financially.

Cabasse employs around thirty people, and my thoughts are obviously with them and their families. When a CEO or CTO makes strategic mistakes, they rarely suffer the consequences; more often, it is the employees who pay the price.

It is difficult to pinpoint all the reasons behind this situation. Perhaps the repositioning in the luxury segment did not work. My impression is that no one in this industry is immune to financial trouble. There are simply too many brands, and their number keeps growing, while the market continues to shrink due to a chronic lack of generational turnover.

Longtime audiophiles who eventually leave the hobby are not being replaced by enough young people, who are now more interested in other technologies and, let's be honest, generally satisfied with the sound they get from smartphones and headphones. Moreover, the middle class has practically disappeared; what remains are cheap but good value Chinese products and extravagant components for multimillionaires. It's clear that such a dichotomy can only lead to major problems. It's the nature of things: too many players in a market that can only be described as “bizarre” suggests that the number of struggling companies is destined to grow.

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March 2026 Editorial

More cracks in the HiFi house of cards: Cabasse also in financial trouble