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Friday, August 22, 2003
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DVD drive maker CenDyne hits stop
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DVD-drive maker CenDyne has shut down, as a California court decides what to do with the company's assets. Earlier this month, Santa Ana-based CenDyne was ordered by the Superior Court of California to shut down. The company has been placed into receivership, according to its voice mail message. CenDyne is no longer shipping products and is not servicing warranties or honoring rebates.
Receivership is a temporary measure used by the court to remove officers of a company in an attempt to stabilize its operations and prevent further loss of assets. The court appointed Robb Evans and Associates as the receiver.
"We're analyzing what to do with the company's assets," CEO Robb Evans said. "The options are to either sell the company or liquidate its assets. We've only begun looking at the books." Evans had no comment on the turn in the company's fortunes.
Last year, the drive maker was the U.S. market share leader for units shipped in the retail market for DVD-ROM drives. It was also the No. 3 maker of DVD-recordable/rewritable drives in 2002, according to retail market tracker NPD Techworld.
So far this year, CenDyne has slipped to No. 5 in DVD-ROM drive shipments but remains the No. 3 maker of DVD-recordable/rewritable drives, behind Sony Electronics and Hewlett-Packard, according to NPD Techworld. |
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