In news from the Netherlands, iRex Technologies has applied for suspension of payments because of disappointing sales in the US, which explains why the iRex DR-800 disappeared from Best Buy’s website last week.
According to iRex CEO Hans Brons, the situation is not hopeless, but there is no cash and the banks are cautious at this time. Because the revenues from the U.S. are far behind expectations, there is no more working capital.
The DR-800 was supposed to go on sale last October in the US, but was delayed by the FCC and didn’t see a US release until February, missing the holiday season. To add to the problem, the DR-800 only sold from Best Buy’s website and not in stores for people to see and use. And there was virtually no marketing done for it whatsoever.
At least iRex was able to get a new firmware update out last week to make existing customers happy, but as to what will happen to the DR-800SG’s free 3G wireless if iRex doesn’t come up with a solution for their financial problems remains to be seen.