(June 14, 2022). As originally reported on the German technology news site c’t Magazin, Auro Technologies, maker of Auro 3D, has taken a precautionary measure and filed for bankruptcy.
The official announcement happened on Friday June 10th via an exclusive interview with founder Wilfried van Baelen.
According to van Baelen, the company has been financially throttled by the corona virus and the resulting supply chain crisis. Royalties are a primary source of income for the company, which have been hampered by a lack of chips for manufacturing new receivers. Additionally, streaming and soundbar technologies developed prior to COVID have experienced extensive delays. van Baelen says those two technologies might not make impacts on the market until 2023.
These market troubles and the inability to project significant future growth ended recent negotiations with a new investor, ultimately forcing Auro to file for bankruptcy. According to c’t, van Baelen expects Auro Technologies and its employee structure to remain intact – sales of individual patents, according to the founder, is not an option. The hope is that bankruptcy will ultimately allow for a positive restructuring and a strong future of business and growth.