MQA goes into administration, the UK’s equivalent to Chapter 11 in the US but is continuing to trade as usual. Recently the company announced the creation of a new HiRes wireless codec originally called MQAir which was recently renamed to SCL6. However, this does not seem to have set the audio world alight with many industry pundits sceptical about another lossy wireless codec to join the likes of aptX, LDAC, and LHDC – none of which can offer true lossless wireless transmission over Bluetooth even for CD Quality streams, let alone HiRes.
It is not clear what will become of TIDAL’s use of MQA and the company is maintaining a very low profile only releasing the following official statement.
“Following the recent positive reception to MQA’s latest technology (SCL6), there has been increased international interest in buying MQA Ltd. At the same time, MQA’s main financial backer is seeking an exit. In order to be in the best position to pursue market opportunities and expedite this process, the company has undergone a restructuring initiative, which includes entering into administration and is comparable to Chapter 11 in the US. During this process, MQA continues to trade as usual alongside its partners. We won’t be commenting further while negotiations take place.”
