Apex Digital Going Out of Business?
 

Apex digital appears to be auctioning off their entire stock of merchandise, even brand new products that were just added to the line in the last month or so. There was an ad for the auction in the Sunday LA Times, here's a link to the auction house's website:

http://members.home.net/vhrauction/vanhornrinella.html

For those too lazy to click links here's the text from it:

By Order Of Hub Group Los Angeles, LLC * In The Matter Of: APEX DIGITAL, INC. Friday, February 8th at 10:00 a.m. * 780 S. Nogales, City Of Industry, California

DIRECTIONS: 60 Fwy. To Nogales, North To Address!

APPROXIMATELY 300,000 APEX DIGITAL DVD
PLAYERS * CD PLAYERS & CHANGERS
FLAT SCREEN TELEVISIONS * KARAOKE
Over $20 Million Retail Valuation
New Units * Boxed, Sealed & Ready For Delivery

Model Numbers & Approx Quantity To Include, But Not Limited To: (180,000) Ad1500; (60,000) Ad3201; (1,000) Ad500; (12,000) AD500, W, WM, WMC; (20,000) AD5131; (10,000) AD600A, AD660, AD703A, AD7701, AD800, GT2011S & MD100; Most Features: Dolby Digital/DTS/PCM Ready, Analog Out, DVD-VCD-SCVD-CD-CD/R-CD/RW-MP3,
Remote Control, Fast/Slow Motion, Multiple Angle, Multiple Languages, Frame By Frame Advance, Etc.

INSPECTION: Wednesday & Thursday, February 6th & 7th From 8:30 a.m. to 3:00 p.m. 5% Buyers Premium o Refundable $5,000.00 Cashiers Check Deposit Required To Bid

From the Apex Forum on Nerd-out:

Quote:
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Hi! This is a response to your Support Request to Apex Digital.

Your Issue Was:

Is it true that the assets of APEX digital are being sold at auction because it is being forced out of business? Is this why the 7701 was released before it was ready to function and why Customer Support has not done anything to help me with my four defective 7701 units that I have now returned to J&R?

Apex's Answer Is:

It is interesting how rumors start.

The Problem is a legal dispute between Apex and Hub.

A contract dispute involves Hub threatening to sell Apex Digital product unless resolved. This is not an Apex Digital auction.

Hub is only one of seven (7) warehouses with Apex Digital Product. Apex digital continues shipping DVD players to retailers and is definitely not going bankrupt or sanctioning any auctions.

Apex Digital is financially sound, continues to supply product to the marketplace, and will continue doing \"business as usual\" while resolution with Hub is agreed upon.

APEX DIGITAL:
Is second only to Sony in DVD player market share in the United States.

Completed a very successful Consumer Electronics Show January 8-11, 2002 in Las Vegas, where major retailers contracted for product exceeding last years success story.

Added 18 new model television sets and 7 new model DVD players to the Apex Digital line-up. Continues shipping to major retailers without interruption now.

Acquired a 60% controlling interest for $9 million in a major DVD manufacturing plant. Completed construction of a 300,000 square foot headquarters with 5 new production lines to complement the existing 350,000 square foot DVD manufacturing facility. Has over 75 engineers doing research and development and 2800 employees.

Colton Manley
Apex Digital Inc.
2919 E. Philadelphia St.
Ontario CA 91761
[email protected]

Thank you!

Apex Digital Inc.
http://www.apexdigitalinc.com/

So, it appears that we will continue to be able to purchase DVD players at almost disposable prices. Just maybe NOT from KMart.

Brianx