![]() However, the piano business was not part of the bankruptcy. In 1983, the holding company and several of its subsidiaries were forced into bankruptcy with a total debt of over $9 billion-at that time, the largest bankruptcy ever. Meanwhile, the company had taken on significant debt to finance its acquisitions and new facilities, and was finding it increasingly difficult to meet its loan obligations. ![]() ![]() By 1982, however, the piano business contributed only three percent of Baldwin's $3.6 billion revenues. In 1980, the company opened a new piano manufacturing facility in Trumann, Arkansas. The company changed its name to Baldwin-United in 1977 after a merger with United Corp. Thompson, Baldwin bought dozens of firms and by the early 1980s owned over 200 savings and loan institutions, insurance companies and investment firms, including MGIC Investment Corporation. If you have any questions-do not hesistate to ask- I will respond as soon as possible.Throughout the 1970s, the company undertook a significant bid to diversify into financial services. ![]() Do not miss out on this piece of history-very low reserve. The cost of and arrangements to transport the piano will be the winning bidders responsibility. "Please read before bidding" The piano will need to be moved or shipped by the winning bidder. A low reserve price has been placed on the piano so. The piano is located in Gun Barrel City Texas and will have to be moved or shipped by the purchaser. According the piano movers who brought the piano to us, the piano will need tuned and some new pads in order to be in optimal playing condition. The former owner of the piano claimed "the piano was featured on the Antiques Roadshow in Athens, Texas and was valued at over $30,000.00", we have no way of validating that statement other than providing the bidder with the year, make, and serial number. This is the only information that we have on the piano. Up for bids is a 1914 Baldwin Baby Grand Piano. ![]()
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