iRex Technologies Files for Bankruptcy in Netherlands

Jun 9, 2010
2
iRex Technologies Files for Bankruptcy in Netherlands

The life of iRex Technologies' DR-800SG and iRex 1000S is a fascinating story, for sure. We watched as it released one thing, fought to release another, and then slipped out of the mind's eye for months. Even with the fact that Best Buy started selling the DR-800SG online back in February, it doesn't look like the company has any good news to report. On Tuesday, iRex Technologies was forced to file for bankruptcy in the Netherlands.

According to the company's CEO, Hans Brons, the company was forced to file for Chapter 11 due to "financial difficulties." We know that if you promise a product for a holiday release and don't deliver, bad things can happen. But, to think that missing the launch window by a few months meant the demise of a company, well that's simply staggering.

You can probably also chalk it up to the competition that released in the same expected months of iRex's eReader launch. Apple's iPad, and then even before that: Barnes and Noble's nook eReader. Missing the holiday season probably had a lot to do with it, yes, but we can't overlook the competition, either. There is some hope from Brons that the company will survive this, and will resume business soon enough, but nothing is for sure. "The expectations are still positive," Brons said. We never like to hear about a company going under, so we'll have to see where this goes.

[via Best-eReaders; thanks Ben!]


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