I heard on the National Public Radio this morning that Singer has filed for bankruptcy. They’re not going out of business, but will restructure, etc. This is a relief for me, because I just bought an older Singer at a garage sale, and I might still want to buy accessories from them.
The news story said there used to be Singer sewing machine in almost every home in the US, because sewing was a necessary part of life. Since then, sewing has become a “high end hobby”, and fewer people sew. Those people want a nicer sewing machine, and Singer gained a reputation for having machines of a lesser quality, due to, (I think) an actual lessening of the quality of their machines. However, Singer still sold extremely well in parts of Asia, where sewing is still a part of daily life. This kept them going. When the Asian financial crisis hit, this hurt their business, combined with the fact that they loaned or invested a bunch of money to a Russian company, and did not get it back. Hence, bankruptcy.
I’m sure I left parts of this story out, since I heard it several hours ago, but I think it’s an interesting comment on the state of sewing today, and how much it’s changed over the years.