Höfner blames effects of US tariffs for bankruptcy, but “business operations will continue” throughout administration
Höfner has given an update on its recent bankruptcy filing, stating that “business operations will continue” throughout the administration process. It has also cited the effects of a challenging export market, particularly due to the recent hike in US tariffs rates.
READ MORE: Höfner – maker of Paul McCartney’s iconic violin bass – files for bankruptcy
A new press release from the German guitar and bass manufacturer adds some context to the filings, which were made on 10 December 2025. It claims that around 65% of its most recent turnover of €6.5 million was due to export business – hence, when the recent US tariff changes were made and EU businesses faced much higher export costs, this had an outsized effect on Höfner. The company also points towards a generally unenthusiastic market for musical instruments due to the “tense overall economic situation.”
Klaus Schöller, managing director of Hofner, adds: “This step [filing for insolvency] was necessary in order to open up realistic prospects for the future of the company. Our 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.” The press release further clarifies that filing for insolvency has allowed it to continue operations, as employee salaries are secured by the Federal Employment Agency until February.
The company is, of course, best known for making the 500/1 bass, AKA the Violin Bass, made iconic by Paul McCartney. Last week McCartney paid tribute to Höfner, writing on Instagram about his longstanding relationship with Höfner and the instrument that helped shape his playing.
“It is very sad to see Höfner go out of business. 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.”
It’s worth noting that McCartney may have been premature in stating that Hofner is going out of business. Insolvency proceedings could help secure investors in the company and get it back on track.
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Source: www.guitar-bass.net
