TechSpot

Everex closes up shop in US

By Matthew
Jul 16, 2009
  1. According to the company’s website, computer maker Everex has brought its US operations to a halt, and is reportedly liquidating its assets. Its presence still remains in Asia, with locations in Japan and Taiwan. No official statement regarding the North American closure has been made. Everex is known for distributing its budget-class systems via Wal-Mart.

    Read the whole story
     
  2. raybay

    raybay TS Evangelist Posts: 10,716   +6

    We cannot think of any way this is a bad thing for the US buyers who might visit Wal-Mart stores. Between Everex and eMachines, some Wal-Mart computer shoppers are as unhappy as anybody has been since before CompUSA closed. It is great to see the marketplace do its thing, and that word of mouth still rules.
     
  3. the writers of the other article may as well throw a party now that Everex is closing up shop. I think its not nice especially in current market conditions. Regardless of the quality of those computers mentioned sold by Everex, you get what you pay for. and simply, they offered low-cost computing to people who cant afford anything better.
     
  4. captaincranky

    captaincranky TechSpot Addict Posts: 10,814   +921

    Um Acer maybe...?
     
  5. raybay

    raybay TS Evangelist Posts: 10,716   +6

    I do not ascribe to the idea that somebody who buys a cheap computer deserves to have it fail after the year of warranty is up. Those people did not get what they paid for.
    Families who buy eMachines and Everex machines at Wal-Mart got less than they paid for, when compared with so many other low cost computers... Then they paid an average of $65 in tech fees to discover the computer could not be repaired.
    It is good to see that Wal-Mart has offered an additional year of warrant on the eMachines desktops, and that Everyex was squeezed out of the market for their poor quality.
    I know that CaptainCranky has had incredible luck with his eMachine, but some models of eMachines and Everex computers have permanent failure rates exceeding 60 percent in our part of the country.
     
  6. captaincranky

    captaincranky TechSpot Addict Posts: 10,814   +921

    raybay, I offered the "Acer" comment as an alternative in a generally low cost computer. You would be in a better position than myself to offer comment as to whether Acer actually is a better, alternative, low cost, prebuilt machine. Or if not, to suggest an alternative.

    As always regards from me and my trusty T-5026. :rolleyes:
     
  7. I have an Everex StepNote VM4101M - owned it for 2 and a half years. Punched up the RAM and this thing is a horse. Great machine for low buck. I'm not a gamer or big on video so for my use, internet browsing, Word & Excel, it's perfect. I wouldn't be such a laptop snob if I were you - there are people out there with unsophisticated needs that don't want to drop huge $$ on a laptop because we don't need it - these Everex machines fill that need very nicely. Technology changes so quickly, why spend big bucks when you're only going to replace it in a few years? I hope they re-enter the market at some point as I'd like to buy another fo their products. DB - Boston
     
  8. captaincranky

    captaincranky TechSpot Addict Posts: 10,814   +921

    Well, in the grand scheme of owning things electronic, 2 1/2 years is not very long. In fact, imagine that the machine blew up today, divide its cost by 30 months, then see if that's a number you can live with. I think most of raybay's hostiity is directed @ Emachines. Besides, "Punching up the RAM" improves any machine, not just Everex.
    Many people aren't gamers and enjoy machines that fulfill their needs. Plus, if I had to drop a laptop, my first choice would be a $400.00 cheapo, and not a Mac Air.
    First let me say there's no such thing as an Everex or Emachines computer. Virtually all of the parts are from the same manufacturers that you would buy from, should you decide to build a computer yourself. Beings as you purchased your laptop going on 3 years ago, you might find that in today's market you perhaps could purchase a better "brand" (whatever that is), for the same money.
     
  9. The real reason for the company closure: Everex was acquired by another company. Due to the ongoing economic crisis, the acquiring company could not come up with the funds by the scheduled closing date. The current ownership did not want to keep paying the bills and chose to close Everex doors and go after the buying company via litigation.
     
  10. raybay

    raybay TS Evangelist Posts: 10,716   +6

    Not really. Not yet. They left because they built a defective and unsalable version of their Cloudbook, which wouldn't even work when they had their own version of Ubuntu... the reviews were disastrous. Everex was notified their agreement with Wal-Mart is over. They had no place to go. No Chinese company has yet signed an agreement.
    After 26 years they could not make a go of it in the US, but they still have assets..
    They have not yet been officially picked up in Europe... but they plan to survive there or in the underdeveloped countries.
    Everex is not going out of business. They are merely leaving the US, and are hoping that current negotiations will result in firm deals. Those deals are not firm yet, according to their web site.
    If you know differently, name those acquiring companies.
    They may or not exist outside the US... but likely somebody will pick u9p the pieces at a bargain price... But they are done as Everex, it appears.
     
  11. Check out the links below. There was plenty of news on the acquisition.
    http://www.pcworld.com/businesscenter/article/147637/cloudbook_maker_everex_snapped_up_by_newmarket.html
    http://money.cnn.com/news/newsfeeds/articles/marketwire/0413889.htm
    http://www.itworld.com/business/53379/everex-acquired-newmarket-technology

    This was the end result:
    http://dockets.justia.com/docket/court-nvdce/case_no-3:2009cv00019/case_id-63857
     
     
  12. raybay

    raybay TS Evangelist Posts: 10,716   +6

    They are doing the Due Diligence... The wall Street folks do not thing the deal will go through... if it does go, there will be big changes... so the lawyers are doing their thing, but nothing is happening... and may not happen.

    If ALL their financial paper work goes, and if all the Financials are supported by the market, then it will happen on or after September 01.

    In the meantime, their people are being laid off, and the company has their move off shore already in place.

    Their financial supports and banks want some management, and the failure of Cloudbook and the loss of Wal-Mart and Best Buy still means it may not happen

    Don't buy any stock yet... because nobody else is, except the scrap people.
     
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