Somehow I missed this …
ZPower LLC filed for voluntary Chapter 11 bankruptcy protection March 17 in the Northern District of Texas. The debtor listed an address of 4765 Calle Quetzal, Camarillo, and is represented in court by attorney Davor Rukavina. ZPower LLC listed assets ranging from $10,000,001 to $50,000,000 and debts ranging from $50,000,001 to $100,000,000. The filing did not identify a largest creditor.
The numbers are staggering.
Part of the story… (paywall to read the rest)
Looks like friction with a lender, allegedly leading to a no-cash position and payroll trouble.
Update from Widex from about one month ago:
ZPower, the company that supplied the optional rechargeable battery system for WIDEX EVOKE™ and WIDEX BEYOND™ hearing aids, has filed for Chapter 11 bankruptcy protection in the US.
Regardless of the outcome of those proceedings, Widex will continue to service all our hearing aids, including ZPower rechargeable units for as long as we are able. However, we have made the decision to no longer sell ZPower rechargeable hearing aids effective immediately. We will have more updates on support of ZPower in the near future.
For patients for whom rechargeability is a crucial factor, the WIDEX MOMENT™ mRIC R D is a state-of-the-art lithium-ion rechargeable solution that also offers a durable and stylish design, pure-link 2.0 and 2.4 GHz connectivity, and pure, natural sound with Widex PureSound™.
This is another bad hit for Widex. They seem like a niche market aid now. I wonder how long they will last in these economic times.
I believe Widex will be around a long time, They are one of the first hearing aids that I can remember they have survived for a long time and with the merger of Widex and Signa they will be around.