UPDATE: T-Rex Engineering has released a statement outlining a restructure and positive plan for the companies future. Check out the statement below.
According to reports, Danish pedal manufacturer T-Rex Engineering has announced bankruptcy. The Danish newspaper Vejle Amts Folkeblad stated that the much-loved boutique brand filed the papers after incurring steep losses last year.
According to the Danish newspaper Vejle Amts Folkeblad, the intuitive pedal manufacture T-Rex is facing bankruptcy after incurring heavy losses last year.
The company fell 3.7 million DKK into the red or $800,000 AUD, which is a lot for a company with only nine employees. T-Rex has become a popular manufacturer since its founding in 1996, producing favourites such as the Mudhoney distortion and Replica Delay, a favourite of David Gilmour’s. Quite the endorsement. The company has also broadened its reach with the Fuel Tank power supply series, which have gained wide acclaim.
Recently T-Rex created a line of real tape-echo pedals, the Replicator and Replicator Junior, and have been working on a revamped Binson Echorec style delay, which would truly be something. It would be unfortunate if it never saw the light of day (or a Fuzz run through it). One could speculate that the development of these re-engineered vintage delays may have proved too costly to make them commercially viable in such a niche market.
Time will tell if the company will be saved by investors, but needless to say, it would be sorely missed if it doesn’t find its way back into the green. If you feel like doing your bit to support the intuitive manufacturer, check out their products on the T.Rex website.
T.Rex Engineering founders Sebastian Jensen and Lars Dahl have since officially released a statement outlining the company’s future, which should bring relief to fans of the Danish manufacturer.
“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.”