Troubled boutique effects company T-Rex Engineering has been saved from bankruptcy by the firm’s co-founders Lars Dahl and Sebastian Jensen, according to a statement from the company today.
The Danish firm filed for bankruptcy in February, and while Dahl assured Guitar.com that the firm would continue in a short statement yesterday, today’s official release sees T-Rex’s founders – who started the company together in 1996 – shed some light on the circumstances of last month’s filing.
“2018 was a year of non-stop business challenges for T-Rex Engineering,” the statement reads. “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 21 February 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.”
The statement goes on to reassure customers that T-Rex will continue to produce effects, power supplies and accessories despite this scaled back operation, and will continue to service the needs of its customers. It ends in bullish fashion, claiming that, “We guarantee that we are stronger and more alive than ever before.”
Stay tuned to Guitar.com for further information on this story as it develops.