Is Modulus still in Business?

[pickles]

Hey Guys,

I made a couple calls to some employees of Modulus I know... Well, they aren't employees anymore, and they said Modulus is completely done. Out. Finished. They said they weren't making any money, couldn't make any money, and owe a lot of people a lot of money. No one wanted to buy the company because they were so far in debt. They didn't even complete some of the orders they had on backorder, and have no inventory.

This sucks. I tired to get some more names and numbers for any of you guys that have stuff on order or at their shop, but my buddy wouldn't drop any info. This all comes from a reliable source, but I won't mention his name or past association with Modulus.

So, there is your answer. I'm actually really sad about this. Overall, this is a bad sign for the music industry/bass industry. Good news is a couple of the Modulus guys are supposed to be getting together to start another bass company (out of their garage, I'm sure). But I have no idea if they would be anything like the good ol' Moduli we know and love.

P.S. Anyone who has gear that is with Modulus and you can't get it back let me know and I will try to help the best I can (from the other side of the country, that is!)

Likely true, but thats also what the guys that get laid off always say about their old employer.

 

[evilchuck87]

I was told there is a deal in the works for new ownership. Whether it gets done or not I don't yet know.

 

[Munjibunga]

yeah, let me catch you up. apparently modulus may or may not be out of business. some know but aren't saying, others are saying but don't really know. then there's the casual observer such as myself- interested but no real opinion, enjoying the show.

Also, Fender may or may not be out of business.

 

[M_hubbert]

Also, Fender may or may not be out of business.

That's funny but seriously though another company just bought Fender and paid off all their debt.

 

[jim777]

In business or not, the Q6 is an absolutely slammin' bass I think if they actually are gone the used prices will go up considerably.

 

[sleepy_monkey]

The truth has already been spoken twice in this thread. I would have no problem buying another used Modulus. If the prices go down that is better for me bc I can buy another and I don't plan on selling my Q5 ever.

 

[JFMusic]

thats also what the guys that get laid off always say about their old employer.

This. They are down, but not out. Hang in there folks...

 

[enjoi1018]

Please keep the optimism flowing guys. I can say, ever since I made my journey back into the instrument that MY ears have always wanted a Modulus moving the speakers.

If iF if IF it's all true, I sorta feel like a member of one of my favorite bands died.

Like when Levon passed.... When I think "Johnny Cash," I then go "Super great things came from that guy. Bravo." But, every time I think "Levon Helm" I go "....ahhhhhhhhhhhhh Levon. Why couldn't you live forever?! WHY?!" and then hold a beer up to the heavens.

 

[GeoffGould]

I've hesitated to comment, out of respect for whatever is going on in the lives of people who used to be my employees. I wish them well in whatever they do, and one never really knows what the future will bring. It is tough to make a living in this biz, and few escape serious stress in this part of the business world. I'd just like to comment on a few things.

First, as far as the value of Modulus instruments (we used to make guitars too), I'm not connected at all to the collectible side of things; I have never cared much for that aspect. I will say that it would be a rare Modulus (truss rod or not) that would require more than $500 to get back in fighting shape, and there is no magic to repairing them. Just lots of superstitious luthiers who don't really want to work on them. I am happy to advise any repairman, but I also don't have any magic advice, just common sense. A well-adjusted Modulus bass is well worth the effort to maintain.

As for the future, yes, even though I've been a full-time high school chemistry teacher for 8 years, I still put out a dozen or so basses a year, but have limited distribution. Domestically, it's mainly the Bass Place in AZ, and Music Unlimited in Monterey, CA. I have a Japanese distributor, but that's about it.

My old partner Jerry Dorsch up in Washington still does this kind of work too, and can take any repairs on. I think he has his own thread here.

If any of my old employees comes out with a new brand, I wish them the best, and hope you give them a chance, especially if they are sinking their livelihood into it.

Peace,

 

[bassman10096]

Thanks, Geoff. Points well made about the construction and durability of Modulus instruments. While it's true that some repair guys don't want to bother with what they haven't done before, I know of two in the Wisconsin area who've taken on graphite neck repairs and found them very straightforward. I for one, hope there will be more, not fewer graphite options in the future. Best luck to Modulus' employees. Hope for those with money or instruments on the table to avoid loss.

 

[Munjibunga]

That's funny but seriously though another company just bought Fender and paid off all their debt.

Bain Capital?

 

[M_hubbert]

Bain Capital?

Wasn't them, it was some company with three initials as a name. I think they may have been form Canada as well. One of those hedge fund or investment firm type of deals. I know a guy who works for a company that fender owns and he told me that after I asked him about why Fender didn't go public on the market a few months back. They got a bad IPO then and now with no debt may try it again.

 

[Bassconbeatz]

Fender is now being invested through Weston Presidio

Invalid Link Removed

 

[davidjbass]

I've hesitated to comment, out of respect for whatever is going on in the lives of people who used to be my employees. I wish them well in whatever they do, and one never really knows what the future will bring. It is tough to make a living in this biz, and few escape serious stress in this part of the business world. I'd just like to comment on a few things.

First, as far as the value of Modulus instruments (we used to make guitars too), I'm not connected at all to the collectible side of things; I have never cared much for that aspect. I will say that it would be a rare Modulus (truss rod or not) that would require more than $500 to get back in fighting shape, and there is no magic to repairing them. Just lots of superstitious luthiers who don't really want to work on them. I am happy to advise any repairman, but I also don't have any magic advice, just common sense. A well-adjusted Modulus bass is well worth the effort to maintain.

As for the future, yes, even though I've been a full-time high school chemistry teacher for 8 years, I still put out a dozen or so basses a year, but have limited distribution. Domestically, it's mainly the Bass Place in AZ, and Music Unlimited in Monterey, CA. I have a Japanese distributor, but that's about it.

My old partner Jerry Dorsch up in Washington still does this kind of work too, and can take any repairs on. I think he has his own thread here.

If any of my old employees comes out with a new brand, I wish them the best, and hope you give them a chance, especially if they are sinking their livelihood into it.

Peace,

Thank you for that insight Geoff. It made me feel a lot better.

 

[Ds1]

I was told a couple of the employees work for Roscoe now. Also, I really don't think they will be back, unless they get bought out, but I also heard that is very unlikely. I talked to some more long-time industry friends over the weekend about it, and unfortunately they saw this coming for a while.

Fender was going to have its IPO last June. I was ready to buy a few shares on the open but it was a bad day (and whole week) for the market so the underwriters didn't want to launch it. I forget the rumored date for the next potential IPO.

 

[Tupac]

What does this mean for all the Modulus artists?

 

[edwinhurwitz]

What does this mean for all the Modulus artists?

It depends. Are they more interested in playing a bass that sounds great and plays great or is it more about just getting free stuff and publicity?

If they love the bass, I don't see any reason for a change.

 

[BagelBruin]

I was told a couple of the employees work for Roscoe now......

That's a huge move: Richmond, California, to Greensboro, North Carolina!

 

[Gard]

I was told a couple of the employees work for Roscoe now.

Ah ha!



Something I can positively contribute to...



One former Modulus employee is now at our shop, he has been here in Greensboro for 3 years now (as of June). When he left Modulus, it was to move "back east" to be closer to friends and family, not for any other reason.

We're very happy to have him here, as he has been a huge positive contributor to our operations; we are totally bummed at what seems to be going down for Modulus, bunch of great guys making great basses. If they are truly "gone", it is indeed a sad day for bass players.

 

[Bipslapper]

We're very happy to have him here, as he has been a huge positive contributor to our operations;

I agree, he is a good guy, totally knowledgeable and professional, as are all the dudes at Roscoe (even the Saints fan).

As an owner of basses from both companies, I agree that if they are done, it is our loss.