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Article: Biasco bankruptcy leaves piano buyers out $350k.(Retailer Update)
- Article from:
- Music Trades
- Article date:
- November 1, 2004
CopyrightCOPYRIGHT 2004 Music Trades Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CONTROVERSY HAS DOGGED Chicago-based Biasco Piano for the past three years as the company has been in and out of the local courtroom to answer charges of deceptive advertising practices. With the company's August bankruptcy filing, the controversy surrounding the low-priced piano dealer is only set to intensify. In documents filed with the U.S. Bankruptcy Court in Illinois on August 30, 2004, Event Marketing Group, doing business as Biasco Piano, listed assets of $149,302 and unmet claims of $638,629. The claims include 110 consumers who paid cash deposits totalling $350,750 for pianos that were never delivered. For assets, the company lists office furniture, and fixtures ...