The date specified for the standstill agreement, June 30, 2024, doesn't necessarily make the situation more serious by itself. The seriousness of the situation depends on various factors, including the company's financial condition, the reasons for the negotiations, and the terms of the agreement.However, a shorter timeframe until June 30, 2024, could indicate that the company and its lenders are facing urgent financial challenges that require immediate attention and resolution. It suggests that the parties involved have a relatively short window to reach an agreement and implement necessary measures to address the company's financial difficulties.A longer timeframe, on the other hand, might provide more flexibility and time for the company to implement restructuring or turnaround initiatives, potentially indicating that the financial situation is less critical or that the parties are more optimistic about finding a solution.Ultimately, the seriousness of the situation should be assessed based on the specific circumstances and the actions taken by the company and its lenders to address the financial challenges during the negotiation period.
A very thoughtful and measured reply. Thank you for taking the time to write this. It is going to be very interesting moving forward to see how things develop. The short time frame is a bit concerning. I for one hope they pull it out the fire as I ultimately have been very happy with my Fanatec gear.
Thank you for your comment. You are incorrect, the thumbnail says...."The End of Fanatec?" A question was being asked and a statement was not being made. No conclusion was formed therefore no conjecture. Without the query you would be correct. Everything presented was backed up with sources 👍🏻
You could have equally used a title 'Is Fanatec turning things around?'.. I think it would have been a bit more positive and less speculative. Regardless of the question mark, I think we all know how it will be read and interpreted. To be perfectly honest, if this was the end of Fanatec, I doubt that Thomas would have been sacked, they would have just let him go down with the ship.
That almost sounded like a bit of conjecture and speculation there my friend 👀 The grammar is sound, but thank you for your opinion and tips on thumbnail design 😁
@rwbrygel is correct. Totally looking for self-gain at potentially a lot of other peoples expense. “Triggering” is where journalism is at, at the moment. Doesn’t require any research and gets easy clicks. It won’t last forever unfortunately. People get tired of BS.
Not good. Probably appoint some new wonder kid as ceo and he will just want to make the books look good. Normal quick fix lower overheads by staff cuts and making the products cheaper with less quality. Hopefully I’m wrong only time will tell.
I really hope it doesn't go this way. It will be interesting to see how much changes and how much Mr Jackermeier will still have influence moving forward.
The actual creator of Fanatec fired? I along with many other legacy sim racers (Simbin days) used to do the beta testing for him before he became mainstream and I'm quite shocked that it's come to this but, with everything that has gone on in recent years, it's hardly surprising that Fanatec themselves would be effected.. nobody is immune.
I was equally shocked. Considering he founded the company in 1997 and it was his baby he must be devastated. However, I agree with you, no one is immune and the way the timeline has gone for Fanatec over the past year or so this is not surprising. I would be interested to know if this means he will still be part of Fanatec in some capacity. I would imagine so 🤔
He may not be CEO anymore.. but don't forget, he is still a considerable shareholder. So not exactly correct to say it's been 'completely' stripped from him.
@@rwbrygel I was stating to have something completely stripped from you is devastating. In this case his CEO position and the control over the company he built. He still holds approximately 47% of the shares I believe as a majority share holder as of 2021 so will still retain some control I would imagine. Please see below reference 👇🏻 uk.marketscreener.com/quote/stock/ENDOR-AG-64305326/news/Endor-AG-CEO-Thomas-Jackermeier-further-increases-private-stake-in-the-company-32290473/
@TraumaTeamRacing well they took everyone's money with low inventory, keep the sales up to pay back the banks ? Clearly a dumb move 😅😅 Yea if they go out, I'm gonna have to see which company has the good good for that future upgrade.
@TraumaTeamRacing yea bro, i dont want them to just disappear, too. I do like their merchandise. Unfortunately, with all the crazy no inventory, bearly no support of warranty and their wearhouse or partner wearhouse just getting orders wrong, I haven't bought anything new off them. I've been in the FB market 😅😅😅
I'm the same. Dreading ever having to use a warranty and very apprehensive about buying any new gear from them just yet. They also need to release some more wheels! What happened to that Bentley wheel they've been brandishing for years? 🤣
Thomas still own 40% of the shares via his personal company, so effectively still a major part of Endor. He got fired cause of the financial state, and one could argue if they have done a better customer service job it would not have been so…
I think the actual figure is probably higher than that according to this article 👉🏻 uk.marketscreener.com/quote/stock/ENDOR-AG-64305326/news/Endor-AG-CEO-Thomas-Jackermeier-further-increases-private-stake-in-the-company-32290473/ I would imagine he will still continue to have a significant say in what happens moving forward. Agree completely, the customer service situation has been an absolute shambles. As a Fanatec customer I really hope they do better.
@@TraumaTeamRacing Indeed. Yeah, so the haters will have to deal with him still. Fanatec have been a major factor in bringing simracing to what it is today, i truly hope they do well - Thomas included
I am with you. Without Fanatec we would not have had the boom in the competitive market at all. The likes of Moza, Simagic and the rest would likely not be here and we wouldn't have as much choice. My wheel base is Fanatec and I still enjoy it. For the sake of the consumer I hope this is the kick up the backside this company needs.
I have no experience with Moza myself just to be completely transparent. I keep my ear to the ground on a lot of groups and I have seen a few things crop up with regards their customer service and quality control. However, these groups do tend to be an echo chamber of negativity so I do take it with a pinch of salt. A quick google search will show you what I am referencing 👍🏻
There are a lot of variables here and it depends on multiple factors. I would imagine it depends on distance from purchase and current circumstance. My advice would be to speak direct to your credit card company and see if you have grounds.
@TraumaTeamRacing already done. It sounded positive tbh. I have to wait until the 6th of April to allow Fanatec to respond fairly, and then I can take proceedings. I'll keep you posted if I am successful, as I would hate for everyone to lose money to these scammers. At the very least, it will force them to respond to my case as, of course, I will be hitting them where it hurts; right in the wallet. Imagine if everyone did that, they'd be forced to be more transparent about their antics.
I would be interested to know the outcome. I have heard of a few who have has success. It is a crying shame that a consumer should have to be reduced to something like this in order to get a response from a company. I think more and more are taking these drastic actions.
@TraumaTeamRacing I will keep you posted and thank you for a sensible response. I proposed something similar on a forum, only to be greeted by imbeciles and fan boys (that's the internet for you) who were defending Fanatec's actions blindly. To me, a company should provide a satisfactory service regardless of who they are and how well their reputation used to be.
No problem at all. I find their responses pretty unreasonable. Regardless of allegiance to a brand, my wheel base is Fanatec and I enjoy their products, if any retailer completely ignores a consumer when they are entitled to a response actions should be taken. I look forward to hearing how you get on. Good luck with it all mate 👍🏻
Do you think this is a positive move for Fanatec or the start of further decline?
The date specified for the standstill agreement, June 30, 2024, doesn't necessarily make the situation more serious by itself. The seriousness of the situation depends on various factors, including the company's financial condition, the reasons for the negotiations, and the terms of the agreement.However, a shorter timeframe until June 30, 2024, could indicate that the company and its lenders are facing urgent financial challenges that require immediate attention and resolution. It suggests that the parties involved have a relatively short window to reach an agreement and implement necessary measures to address the company's financial difficulties.A longer timeframe, on the other hand, might provide more flexibility and time for the company to implement restructuring or turnaround initiatives, potentially indicating that the financial situation is less critical or that the parties are more optimistic about finding a solution.Ultimately, the seriousness of the situation should be assessed based on the specific circumstances and the actions taken by the company and its lenders to address the financial challenges during the negotiation period.
A very thoughtful and measured reply. Thank you for taking the time to write this. It is going to be very interesting moving forward to see how things develop. The short time frame is a bit concerning. I for one hope they pull it out the fire as I ultimately have been very happy with my Fanatec gear.
It’s not the end of Fanatec, it’s a new beginning. Time for a new CEO.
I really hope so mate! I've got a lot of their stuff 🤣
'...Not going to be dealing with rumours or conjecture...' Your clickbaity thumbnail is 'THE END OF FANATEC'.. 🙄 ..conjecture... You're not helping.
Thank you for your comment.
You are incorrect, the thumbnail says...."The End of Fanatec?"
A question was being asked and a statement was not being made. No conclusion was formed therefore no conjecture. Without the query you would be correct.
Everything presented was backed up with sources 👍🏻
You could have equally used a title 'Is Fanatec turning things around?'.. I think it would have been a bit more positive and less speculative. Regardless of the question mark, I think we all know how it will be read and interpreted.
To be perfectly honest, if this was the end of Fanatec, I doubt that Thomas would have been sacked, they would have just let him go down with the ship.
That almost sounded like a bit of conjecture and speculation there my friend 👀
The grammar is sound, but thank you for your opinion and tips on thumbnail design 😁
@rwbrygel is correct. Totally looking for self-gain at potentially a lot of other peoples expense. “Triggering” is where journalism is at, at the moment. Doesn’t require any research and gets easy clicks. It won’t last forever unfortunately. People get tired of BS.
Every business has loans. In fact the bigger the loan the greater the growth potential. Not a concern.
Not good. Probably appoint some new wonder kid as ceo and he will just want to make the books look good. Normal quick fix lower overheads by staff cuts and making the products cheaper with less quality. Hopefully I’m wrong only time will tell.
I really hope it doesn't go this way. It will be interesting to see how much changes and how much Mr Jackermeier will still have influence moving forward.
It's a PR move many companies do. Will this speed up your order, no in fact it might make things worse for awhile, change won't happen over night!!
I'm not sure it is a PR move. It was a mandate that was given to Endor AG, however it will definitely help their PR no doubt.
The actual creator of Fanatec fired? I along with many other legacy sim racers (Simbin days) used to do the beta testing for him before he became mainstream and I'm quite shocked that it's come to this but, with everything that has gone on in recent years, it's hardly surprising that Fanatec themselves would be effected.. nobody is immune.
I was equally shocked. Considering he founded the company in 1997 and it was his baby he must be devastated. However, I agree with you, no one is immune and the way the timeline has gone for Fanatec over the past year or so this is not surprising. I would be interested to know if this means he will still be part of Fanatec in some capacity. I would imagine so 🤔
@@TraumaTeamRacing I do hope so, he is Fanatec afterall, if it wasn't for him, Fanatec would not exist.
I agree. To have something you created completely stripped from you is devastating.
He may not be CEO anymore.. but don't forget, he is still a considerable shareholder. So not exactly correct to say it's been 'completely' stripped from him.
@@rwbrygel I was stating to have something completely stripped from you is devastating. In this case his CEO position and the control over the company he built. He still holds approximately 47% of the shares I believe as a majority share holder as of 2021 so will still retain some control I would imagine. Please see below reference 👇🏻
uk.marketscreener.com/quote/stock/ENDOR-AG-64305326/news/Endor-AG-CEO-Thomas-Jackermeier-further-increases-private-stake-in-the-company-32290473/
So that could explain the mess on black Friday...
I'm not sure anything could explain the colossal mess that was the black Friday sale 🙄😅
@TraumaTeamRacing well they took everyone's money with low inventory, keep the sales up to pay back the banks ?
Clearly a dumb move 😅😅
Yea if they go out, I'm gonna have to see which company has the good good for that future upgrade.
Not their best moment if that was the case 😅 I hope they pull it out of the fire. I have a lot of their kit and would hate to see them go.
@TraumaTeamRacing yea bro, i dont want them to just disappear, too.
I do like their merchandise. Unfortunately, with all the crazy no inventory, bearly no support of warranty and their wearhouse or partner wearhouse just getting orders wrong, I haven't bought anything new off them. I've been in the FB market 😅😅😅
I'm the same. Dreading ever having to use a warranty and very apprehensive about buying any new gear from them just yet. They also need to release some more wheels! What happened to that Bentley wheel they've been brandishing for years? 🤣
Thomas still own 40% of the shares via his personal company, so effectively still a major part of Endor. He got fired cause of the financial state, and one could argue if they have done a better customer service job it would not have been so…
I think the actual figure is probably higher than that according to this article 👉🏻 uk.marketscreener.com/quote/stock/ENDOR-AG-64305326/news/Endor-AG-CEO-Thomas-Jackermeier-further-increases-private-stake-in-the-company-32290473/
I would imagine he will still continue to have a significant say in what happens moving forward. Agree completely, the customer service situation has been an absolute shambles. As a Fanatec customer I really hope they do better.
@@TraumaTeamRacing Indeed. Yeah, so the haters will have to deal with him still. Fanatec have been a major factor in bringing simracing to what it is today, i truly hope they do well - Thomas included
I am with you. Without Fanatec we would not have had the boom in the competitive market at all. The likes of Moza, Simagic and the rest would likely not be here and we wouldn't have as much choice. My wheel base is Fanatec and I still enjoy it. For the sake of the consumer I hope this is the kick up the backside this company needs.
This is a day where I am glad I bought Logitech!
Currently wrapping my DD2 in bubble wrap so no harm can come to it 😂
Turn the force feedback down... 😂
@@DavidHutcheson No force feedback might be the way forward 😂 Must be protected at all costs.
Wish I had bought Logitech now.
@@kelvingomersall7460 Hold in there. They aren't out of the fight yet 💪🏻
Its a good day for MOZA
Time will indeed tell. Moza is not without its share of problems however. A very interesting time for sim racing.
Really? Financial or hardware? or dont tell me "Customer Service" ;) @@TraumaTeamRacing
I have no experience with Moza myself just to be completely transparent. I keep my ear to the ground on a lot of groups and I have seen a few things crop up with regards their customer service and quality control. However, these groups do tend to be an echo chamber of negativity so I do take it with a pinch of salt. A quick google search will show you what I am referencing 👍🏻
Fanatec has failed years ago
Their stock was at an all time high after an explosion in the market a few years ago. So this isn't accurate.
It's obvious by now that my faulty equipment isn't going to get fixed. I payed on credit card, can I do a force cash back?
There are a lot of variables here and it depends on multiple factors. I would imagine it depends on distance from purchase and current circumstance. My advice would be to speak direct to your credit card company and see if you have grounds.
@TraumaTeamRacing already done. It sounded positive tbh. I have to wait until the 6th of April to allow Fanatec to respond fairly, and then I can take proceedings. I'll keep you posted if I am successful, as I would hate for everyone to lose money to these scammers. At the very least, it will force them to respond to my case as, of course, I will be hitting them where it hurts; right in the wallet.
Imagine if everyone did that, they'd be forced to be more transparent about their antics.
I would be interested to know the outcome. I have heard of a few who have has success. It is a crying shame that a consumer should have to be reduced to something like this in order to get a response from a company. I think more and more are taking these drastic actions.
@TraumaTeamRacing I will keep you posted and thank you for a sensible response. I proposed something similar on a forum, only to be greeted by imbeciles and fan boys (that's the internet for you) who were defending Fanatec's actions blindly. To me, a company should provide a satisfactory service regardless of who they are and how well their reputation used to be.
No problem at all. I find their responses pretty unreasonable. Regardless of allegiance to a brand, my wheel base is Fanatec and I enjoy their products, if any retailer completely ignores a consumer when they are entitled to a response actions should be taken.
I look forward to hearing how you get on. Good luck with it all mate 👍🏻
How can he get fired when he is the founder?
He doesn't have complete control.
@@TraumaTeamRacing Getting fire from your own business is crazy
I agree. In this case a mandate from the lenders. He still holds a lot of stock though.