 The TAG McLaren Audio enterprise suffered adversely from the economic slump in the early 2000s, and announced that it ceased development in mid-2003 followed by a strategic review.The audio operations were eventually sold to the International Audio Group (headquartered in Shenzhen, China), which owns other Hi-Fi manufacturers such as Quad, Mission, Wharfedale and Castle Acoustics.It wasn't until 2005 that Audiolab re-emerged under the leadership of designer Nick Clarke (no longer with Audiolab), with a whole new range of equipment.