Japanese boutique drum specialist, Sakae, has suspended trading, according to the US magazine Drum! (www.drummagazine.com)
Rumours surrounded the troubled company a year ago, but Sakae was present at this year’s Winter NAMM show with new products. Distributed in the USA by Korg, no statement has been yet made by either company about future prospects.
Known for its high quality specialist shells, for 40 years Sakae was closely associated with Yamaha, for whom it made top end shells. According to Drum! ‘The company has nearly $7 million in debts, according to news reports. Sales had dropped to $2.8 million in 2016, down from a high of $13.2 million in 1988. Lawyers began debt settlement procedures this month after banks stopped extending lines of credit’.