After 17 years in operation, WMD will cease production “by the end of 2022”, but added that the company could go on to pastures new and “see what the world has to offer down the road”.
“We’ve been making gear that has pushed the boundaries of electronic music, that’s made its way into the rigs of incredible people we respect, that has allowed them to make music that we cherish, that inspires us to make more gear,” WMD announced on Monday in a statement.
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“Times are tough for everyone. The state of the world has destroyed our sales numbers while operating costs continue to rise. We have many new designs in the pipe that unfortunately cannot be made due to the global parts shortage.”
The leading hardware manufacturer has helped to produce thousands of modular synths, Eurorack modules including oscillators, sequencers, and mixers, and standalone instruments and effects pedals in its 17 years.
“Our company is reliant on the development of new innovative products in the hardware realm and we have watched our lead times for parts get pushed back from months to years, and there is no telling if some will actually come. This makes planning for the future impossible, and new product development unfulfilling,” they added in the statement.
WMD has now announced three final new products with a limited run of 600 on each module. All other product prices have now been reduced by 30% as the liquidation process begins.
“With the risk of going further in debt with no “end” in sight, we have concluded that the only option is to wind down our production facility, with the plan to close by the end of 2022. We wish that we could keep things going, that we could see another path, but the stress alone has been harmful to our mental health, and our lack of incoming cash is only making it worse.”
Gemma Ross is Mixmag's Editorial Assistant, follow her on Twitter