Fanatec files for insolvency
- Thread starter PJTierney
- 213 comments
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- 712
- Germany
- timekiller001
- 305
- Michigan
- xIX_CJ83_XIx
- xIX_CJ83_XIx
We should still be good. The game would still work, but might not be as good as it could be with an update.
It works both ways. The game will support whatever driver it was last developed with, but improvements / stability fixes will need to come from Fanatec as well.
- 2,112
- FL, USA, Earth, Sol, Local Bubble, Milky Way
- TeamACRZARacingo
- GyroxOpex
For the moment yes, but that doesn't mean someone like Moza couldn't step up to the plate and replace Fanatec.
- 5,590
- Paint booth
- FMecha_EXE
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- 301
This is really sad news - I consider myself a fanatec fanboy, but as famine said, let’s wait to see what happens next. I can’t believe that they will allow this company and its huge ecosystem to be lost in oblivion - I just doesn’t make any sense.
Fanatec has been having some issues lately - but mistakes happen and they are trying to resolve them. I’ve had my CSL Elite for 5 years problem free and only realized about the business issues after I ordered the DD+. Took a little longer to arrive and communication in between was crap but it arrived, rules as a product and was lucky (?) to have an error free device.
Improving support, logistics and driver quality would get the company back to the top. Their products are too high quality for people not to like.
Fanatec has been having some issues lately - but mistakes happen and they are trying to resolve them. I’ve had my CSL Elite for 5 years problem free and only realized about the business issues after I ordered the DD+. Took a little longer to arrive and communication in between was crap but it arrived, rules as a product and was lucky (?) to have an error free device.
Improving support, logistics and driver quality would get the company back to the top. Their products are too high quality for people not to like.
chromatic9
Premium
- 2,835
- England
- chromatic9
What a mess the console wheel market still is.
Post G25/DFP it's been mind-numbing how this niche market has gone through the wringer. I used to post and warn about all this like 15 years ago and not once seen a safe point to return to buying a wheel after being a G25/ Fanatec Turbo S owner. You just know once Gran Turismo finally turned to Fanatec this would happen like this.
With how big Sony and GT is I think they should work with Logitech properly and create some nice wheels ranges that have full support in mind. Sick of these shady companies, short time deals, atrocious support, exclusivity nonsense ruining the small market.
I would be a potential customer but have given it all a wide berth and quell surprise you can make a movie about the skullduggery and sketch of it all.
Post G25/DFP it's been mind-numbing how this niche market has gone through the wringer. I used to post and warn about all this like 15 years ago and not once seen a safe point to return to buying a wheel after being a G25/ Fanatec Turbo S owner. You just know once Gran Turismo finally turned to Fanatec this would happen like this.
With how big Sony and GT is I think they should work with Logitech properly and create some nice wheels ranges that have full support in mind. Sick of these shady companies, short time deals, atrocious support, exclusivity nonsense ruining the small market.
I would be a potential customer but have given it all a wide berth and quell surprise you can make a movie about the skullduggery and sketch of it all.
- 2,112
- FL, USA, Earth, Sol, Local Bubble, Milky Way
- TeamACRZARacingo
- GyroxOpex
I don't remember that, but the point is another company could step up to take Fanatec's place. Doesn't have to be Moza specifically
- 9,598
- Portland, OR
- Jump_Ace
- JUMPxACE
GL with that, so much is made in China these days I couldn't care less as long as the product has good reviews and holds up (so far Simagic has been getting good reviews). I will say I'm on the fence if I should just let my Fanatec equipment run the course and replace it when something breaks, or if I should just rip the band-aid off and buy all new, warranted stuff in the near future.
Jerome
- 405
- Houston, TX
- TheOneDonJuan
- 1,846
- United States
At this point if your Fanatec equipment is performing as designed with no issues why jump up and replace it?
Now perhaps a different story if something fails then you need to decide if you wish to invest more into an eco system to replace something that right now its future is a little muddy or move on to something else.
- 273
- United States
Yeah, I'm far from panicking so far. I too suspect the company will ultimately survive under a new arrangement/investors/owner(s). Some of the online histrionics are eye-roll inducing. A lot of people don't seem to understand this situation doesn't automatically mean Fanatec is closing its doors and disappearing.
- 369
- West Yorkshire
- DRambo
The situation over the last year or so absolutely stank of an insolvent company. The whole warehousing etc excuses where just smoke and mirrors. I believe customers were deliberately lied to about their orders. My first question would be if customer payments were held separately and protected pending delivery.
- 34
- Italy
Posting-Filter
www.wallstreet-online.de
Answer from TJ
Veinz
Premium
- 5,077
- Ontario
I just want to see some transparency on how they got into so much debt. I seen some things like they built a new hq, bought some extravagant cars but I’m not sure what is actually true or not.
There’s a lot of doom and gloom all over the internet about this situation but I personally can’t see this company going anywhere. It will change hands, maybe even be rebranded. But they have too many customers, products, r&d, logistics and manufacturing connections to just die off like that. But I also know **** all about what the situation is really like.
There’s a lot of doom and gloom all over the internet about this situation but I personally can’t see this company going anywhere. It will change hands, maybe even be rebranded. But they have too many customers, products, r&d, logistics and manufacturing connections to just die off like that. But I also know **** all about what the situation is really like.
- 1,846
- United States
I wonder if they bit off more than they could chew in sponsorships including full scale racing.
Look at most any full scale sportscar racing and you see the Fanatec logo on many of the drivers suites and on many of the trackside banners as well.
Those endorsements or exposure do not come free.
Seems Fanatec was doing fine until they started trying to branch out too much and then were neglecting the core business of affordable sim racing gear.
Perhaps they would have been better served several years ago to be spending their funds on getting the new quick release system designed and on the products as there were quite a few consumer complaints about the QR1 rather than spending money trying to break into full scale motorsports.
- 6,852
- United Kingdom
As the saying goes, "Don't bite off more than you can chew." Hopefully TJ manages to find a combo to save the company, looks like they will need a new name if Corsair have now got it? Seems a bit dodgy the board dealing with Corsair if they have already have a rival product developed and not someone like Xiaomi who don't, maybe we will get a Mi Wheel in the future...
Shows that targeting growth without control of finances is extremely risky that even this profitable company that makes more profit than say a multi-billion dollar valued company is filing for insolvency. It is quite astonishing the founder, former CEO and majority shareholder can be made so powerless.
Shows that targeting growth without control of finances is extremely risky that even this profitable company that makes more profit than say a multi-billion dollar valued company is filing for insolvency. It is quite astonishing the founder, former CEO and majority shareholder can be made so powerless.
- 305
- Michigan
- xIX_CJ83_XIx
- xIX_CJ83_XIx
You're not wrong on that assumption. How many years have we been waiting for that Bentley wheel they dangled in front of everyone's face.
I'm not sure what you mean here. They literally launched 2 budget wheel bases (DD Pro / CSL DD) that pretty much monopolized the market. Not to mention all of the bundles you had to choose from. The V2 pedals were a huge improvement over the originals. Some even preferring them over the more expensive V3's. Their logistics and customer service has always been lacking. They even trail behind on software releases, but affordable products has always been a positive from my experience.
As much as people hated the QR1, I never had an issue with any of mine for the 7+ years I used them. I only switched to the QR2 because of the BF deal that was offered. I never used the plastic QR1 so I cannot comment on that.
