Article here: Storied French Piano Manufacturer to Close - The New York Times
Pianists - can any of you put this in perspective? Were they still building good instruments and this is just a sign of the times?
Pianos are in something of a Great Depression. It was not too long ago that almost every nice house had one, even a spinet; now they are only found in the homes of dedicated musicians and those looking for a certain decorating look.
Even grandma’s old piano is in trouble. The lifespan of a piano is around 40-50 years, depending on climate and care, and a HUGE number of pianos - call them the Boomers - are hitting this age where they are too worn out to repair and salvage. They are piling up in trash yards.
As for new pianos, the electronic substitutes have replaced the market for everything below a certain level, and only a few makers (Yamaha first among them) produces large quantities of the lower and mid-grade instruments any more. The top end is overserved by Yamaha’s first-line pianos, Bosendorfer and Steinway.
It’s just tough to be a maker of elephants in a world of hamsters. 
(I get to dust the 1984 Steinway B upstairs, but I can’t play a note on it. That’s everyone else’s job.)