JVC is known to have produced a copy of the V-M 1200 series without license. Large record changer production volumes helped V-M keep its own Voice of Music brand profitable for many years. After 1965, the trend became clear that American audio companies were going out of business or shifting production overseas. As V-M's record changer volumes declined, it became difficult for the company to remain profitable. Retailing began to change from small "mom and pop" stores (V-M's strength) to large electronics retailers where V-M was under-represented. At the end of 1972 year, V-M quit offering console stereos and terminated all tape recorder models, for sale to retail customers, with the exception of an eight track player. At the end of the 1974 year, all other remaining retail products, except record changers, were discontinued. After 1974, V-M record changers were the only consumer product sold to the retail market as components. Record changers continued to be sold to original equipment manufacturers up to the bankruptcy, in mid July, 1977. Cassette decks still produced, after leaving the retail consumer market, were highly specialized professional units. Some of the companies that bought these professional cassette decks were New Century Education Corporation, Beltone, and Terra Technology. V-M also did contract engineering projects for various manufacturers, along with some assembly projects for outside companies. For the December 1976 Christmas Season, V-M assembled an electronic ping pong game for Factory Direct Marketing. V-M filed for bankruptcy in mid July 1977 when a power failure in New York City prevented a wire transfer of critically needed funds. At first, within the bankruptcy, V-M Corporation was regulated by the Bankruptcy Court, and had to obtain permission for all activity, especially manufacturing. Customers had to prepay for any manufacturing or services performed, since V-M could not use the creditors' money. V-M projects done, while under Bankruptcy Court supervision, included reworking 20,000 turntables for Thompson Electronics of France in 1978 and 1979. V-M also manufactured Model 270-6 monaural record changers, and a number of cassette decks for New Century Education Corporation, Beltone, and Terra Technology. (Assembly of cassette decks continued through the calendar year of 1989.) All manufacturing ceased by September 1979 when the bankruptcy auction occurred. Of the ten buildings V-M Corporation owned at the time of the bankruptcy, only a few sold. Building number #17 did not sell and this was the building V-M operated out of from 1979 until it was demolished in September 1998.