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T-Rex Engineering declares bankruptcy
Old 5th March 2019
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T-Rex Engineering declares bankruptcy

T-Rex Engineering declares bankruptcy

Boutique effects company T-Rex Engineering has declared bankruptcy, according to reports in Danish newspaper, Vejle Amts Folkeblad.

According to the report, T-Rex filed for bankruptcy on 21 February 2019 following a tough period, with the company reporting a DKK 3.7 million (£420,000/$560,000) loss in the 2017/18 financial year, leaving it in negative equity.

The company’s most recent annual report, which was published in December, stated that, “there is significant uncertainty that can raise significant doubts about the company’s ability to continue operating,” which sadly appears to have come to pass.

T-Rex was founded in 1996 by Lars Dahl-Jorgensen and Sebastian Jensen, and soon became one of the darlings of the early boutique effects scene, gaining worldwide notoriety for the Alberta overdrive, Mudhoney distortion and most famously the Replica digital delay.

The latter’s wonderfully authentic digital recreations of classic tape echo sounds meant it found its way onto the boards of everyone from David Gilmour to John Mayer, not to mention thousands of tonehounds all over the world.

The company’s other significant contribution to the effects world was the Fuel Tank range of high-end power supplies, which continue to be a popular sight on pro and amateur pedalboards to this day.

At press time, T-Rex has not released an official comment on the bankruptcy filing, or what the future holds for the company’s eight staff.

Source.

Update - March 6th 2019:

Following yesterday's reports of Danish pedal company T-Rex Engineering's bankruptcy, the firm has announced plans that confirm it is far from extinct.


A statement issued today from founders Sebastian Jensen and Lars Dahl reads:

"In all honesty, 2018 was a year of non-stop business challenges for T-rex Engineering. We felt the tightening of the market through declining sales and we struggled with higher import duties in the US.

"More significantly, during these tough times we fought internally over our direction and future instead of pulling together as a team. The staff fractured and ways were parted with longtime partners.

"T-Rex Engineering went through bankruptcy on February 21, 2019 and the company was offered for sale. So why are we so happy today? The old T-Rex is alive and kicking again!

"The original founders of T-Rex Engineering, Sebastian Jensen and Lars Dahl, have purchased back the brand, and will reboot the company with a reduced staff and a commitment to bringing some positive energy into the brand once again.

"This means that we will continue to deliver some of the best effects pedals, power supplies, and guitar accessories in the world – and we will be able to continue to service the needs of all of you that have been so loyal to our brand during the years.

"We hope that you will continue to support us – we guarantee that we are stronger and more alive than ever before."

We look forward to seeing more from the company in 2019 - including that long-mooted Binson Echorec reboot.

Source.


Last edited by The Press Desk; 6th March 2019 at 06:40 PM..
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