Henry & S. G. Lindeman went bankrupt in 1914. "The Piano Magazine" reported it was "said that their failure was due to investments in the retail business preceding the continued tightness in the money market." A petition for bankruptcy was filed soon afterwards against the company's affiliate Jameson-Allen Piano Company of Philadelphia, while the Melodigrand trademark was taken over by Long in exchange for relinquishing part of his claims against the estate. J. & C. Fischer also purchased a patent subject to a suit that they claimed infringed a patent held by them. An auction was announced for late November to sell the stock in trade and goodwill and use of the name Henry & S. G. Lindeman and all of the firm's assets were sold for $27,000 to George W. Gittens, president of piano manufacturer Kohler & Cambell, Inc., of New York. Gittens immediately sold the property to the Lindeman & Sons Piano Company, then still controlled by Wanamaker's—a reversal of fortunes according to an article in "The Piano Magazine and Music Industry" which reported that in better times Henry & S. G. Lindeman had seriously considered purchasing Lindeman & Sons. The article also reported that Henry Lindeman apparently would be employed indefinitely by the new owners.