Apex Digital, Inc. announced that it has filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code.
For more information visit: www.apexdigitalinc.com
Unedited press release follows:
Apex Digital, Inc. Files Voluntary Chapter 11 Petition to Reorganize Business
Will Continue Providing Customer Support and Warranty Service for Apex Digital Products
WALNUT, Calif.–Apex Digital, Inc. (the “Company”), one of America’s leading providers of Apex Digital-branded TV’s, DVDs, Blu-ray, CTV, converter set top boxes and related products, announced today that it has filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code.
Apex Digital Inc. will pursue approval of a restructuring plan that will modify the Company’s business model to enable it to expand its consulting business by leveraging its global business connections and focusing on growing its green energy lighting products line.
Apex will continue providing its business partners with the highest level of service and attention going forward to ensure that there will be no disruption to existing, or future, business and any pending orders. The trademark “Apex Digital” is owned and licensed by independent third parties not affected by the Chapter 11 petition. To facilitate a seamless transition for its customers and vendors, Apex is working with the new licensee and intends to continue providing customer support and warranty service for all Apex Digital products in the U.S. without interruption. The company said that it has necessary working capital to operate its business normally under the jurisdiction of the Bankruptcy Court.
“We are fully committed to supporting existing U.S. customers of televisions and other products sold under the Apex Digital brand,” said Mr. David Ji, President and CEO of Apex Digital Inc. “This restructuring plan allows Apex to grow its business in a new direction capitalizing on the increasing demand for green energy. This is an area where we have a proven track record and a number of new products under development.”
Additional information about Apex Digital Inc.’s restructuring, including updated contact information for customers and vendors can be found at www.apexdigitalinc.com.
About Apex Digital Inc.:
Founded in 1997 and headquartered in Walnut, CA, Apex Digital Inc. is one of the country’s leading providers and marketers of consumer electronics, including high-definition LCD televisions, home entertainment media devices, solar powered lights and digital set top boxes.