updated 08:55 pm EDT, Wed June 9, 2010
Fate of products uncertain
iRex Technologies has filed for Chapter 11 bankruptcy protection following poor sales of its DR800 e-book reader. The Netherlands-based company, known for developing electronic paper technology, has blamed its financial woes on delays during the FCC approval process.
CEO Hans Brons suggests the DR800 launch was held up by the FCC and missed the critical window to be placed on shelves for the holiday shopping season. The delay is said to be a direct cause of the current strife.
"It's not a hopeless situation, but there is no cash and the banks are cautious at this time," says Brons.
The company had secured deals with several US retailers to distribute its touchscreen e-book readers. The DR300SG was headed for Barnes & Noble bookstores and Best Buy. The fate of iRex's devices remains unclear. [via Mobile Read and eReaders.nl]