The decision, the company said in a statement, came "after a very thorough review of the current business climate and the loss of multiple points of distribution due to the economy, which comes at a particularly inopportune time as the company continues to introduce the brand to thousands of new customers through its successful and growing partnership with Apple."
“We are confident that the ongoing development of Magnolia’s national brick and mortar retail model and their commitment to enhance the presentation of traditional premium audio creates a unique and exciting opportunity for Bowers & Wilkins," B&W chairman Joe Atkins said as part of the announcement.
"At the same time, we are also confident that the increased brand exposure will benefit our existing dealer partners, and enhance their ability to continue to drive profitable and sustainable retail revenue.”
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