Last week, it was announced that MecklerMedia was working, effective immediately, toward a plan of liquidation and dissolution, suspending operations. The move, unexpected from many corners and announced on Monday, December 21, comes on the heels of recent health concerns for CEO and founder Alan Meckler, as well as “many months of unsuccessful efforts to raise capital and/or seek a potential acquirer.”
“We are extremely disappointed to suspend operations but the market for our trade shows has not developed as fast as we expected it would. At this time, the Company continues to work with its financial and legal advisers and is considering various methods of liquidation, all in an effort to maximize the value of Company assets,” Meckler explained.
MecklerMedia had operated trade shows including the popular Inside 3D Printing series, as well as RoboUniverse and Bitcoin Industries. While as yet no plans have been announced for the future of these trade shows, there remains the potential for an acquiring party to take these operations into hand.
“The company expects that all of the proceeds from any sale of its assets will be used to pay its creditors, including its secured creditor, and its wind down expenses,” the official press release noted. “The Company anticipates that there will not be sufficient proceeds for any recovery by the stockholders.”
The liquidation also has the effect of immediately and significantly reducing the MecklerMedia workforce.
As many of our readers noticed, in September of this year, MecklerMedia acquired 3DPrint.com. Operations here at the site remain unaffected, generally, by the recent announcement. This website now operates under the newly formed 3DR Holdings LLC, run by Alan Meckler and John Meckler. Staffing remains the same here, with no changes to our full-time or regular freelance writing and editing staffing, and I remain in place as the site’s editor-in-chief.
3DPrint.com will remain in operations, without hiccups. As ever, any of our staff can be contacted through our About Us page, as well as through any of our social media accounts, including Facebook, LinkedIn, and Twitter, and we welcome comments on stories as well as on other aspects of 3D printing at our affiliated message board, which continues to be run by the Krassensteins, at 3DPrintBoard.com. Questions, concerns, comments, or news tips can also be sent to me directly at sarah@3dprint.com.
Any inquiries regarding the news from MecklerMedia–and anyone interested in purchasing the company’s assets–can be directed to Scott Markowitz at c/o Tarter Krinsky & Drogin LLP, 1350 Broadway, New York, NY 10018, 212-216-8000.
