Höfner bankruptcy

Paul McCartney, Höfner 500/1 Violin Bass in hand, performing with Ringo Starr. Photo Credit: Raph_PH

Höfner, the 138-year-old company best known for making Paul McCartney’s famed Violin Bass, has “filed for insolvency” and is now seeking “a strong partner to…secure business operations and jobs in the long term.”

Hagenau, Germany-headquartered Höfner announced the news in an Instagram post last week. But the straightforward message only recently started gaining stateside media traction – in part because Paul McCartney himself voiced support for the company.

“It is very sad to see Höfner go out of business,” McCartney wrote on Instagram. “They have been making instruments for over 100 years, and I bought my first Höfner bass in the sixties. I have loved it ever since.

“It’s a wonderful instrument to play: lightweight, and it encourages me to play quite freely. It also offers pleasing variations in tone that I enjoy. So, commiserations to everyone at Höfner, and thank you for all your help over the years,” the Beatles legend concluded.

Back to the statement from Höfner, the company confirmed “going through a difficult period – especially since the introduction of the US tariffs.” Consequently, it “filed for insolvency on” Thursday, December 11th.

(A sidenote on the tariffs and possible restructuring: Per its website, Höfner after being sold by Music Group in 2004 “invested more heavily in its overseas manufacturing facility.” Specifically, a “branch office in Beijing is 100% Höfner,” not a joint venture, and has “a grade A export license.”)

As described by Höfner, it’ll be about three months before the bankruptcy process kicks into high gear; production and distribution will continue in the interim, according to the business.

“In Germany, there is a three-month period before the actual insolvency procedure is opened,” Höfner wrote here. “This period offers the opportunity to consolidate the company and restructure it for a better future.

“Within this period, we will continue to build and sell our instruments and the Höfner team is doing its best to provide you with the support, service and warranties you expect,” the company continued.

With that, the approaching months should reveal how things play out for Höfner, which, as noted by Guitar World, was technically a division of Boosey & Hawkes before being sold to the aforementioned Music Group.

From there, longtime Höfner GM Klaus Schöller and his wife Ulrike Schrimpff bought the business. Per Guitar.com, Schöller in a follow-up release confirmed that his company’s “goal is to work with a strong partner to position the Höfner brand for the future and secure business operations and jobs in the long term.”

Meanwhile, the same release pointed to turnover of €6.5 million (currently $7.7 million) – with about 65% of the sum stemming from Höfner’s exports – and acknowledged the instrument-manufacturing impact of a “tense overall economic situation.”