Tuesday, November 4, 2008

Eva-tone files for bankruptcy

I know I still have a few old Eva-tone 7" flexi-discs buried in my vinyl collection. Maybe even a 10" one too (I might be confusing the 10" with Eva-ton's partner company, Lyntone, in the UK, who did the flexidiscs for Flexipop magainze). I had a subscription to BOB magazine for a minute mainly for the Eva-tone flexi's.

Eva-tone Inc., a Clearwater printer and maker of music industry products, has filed for Chapter 11 bankruptcy reorganization.

In the filing in U.S. Bankruptcy Court in Tampa late Monday, Eva-tone did not list total assets but indicated its top 20 unsecured creditors were owed a combined total of nearly $4-million.

The case was assigned to Bankruptcy Judge Catherine Peek McEwen.

Founded in 1925, Eva-tone is best known for revolutionizing audio recording with its production of flexible vinyl records. The company started making CDs and CD-ROMs in the early 1990s and that grew into a major part of its operation.

Neither company president and CEO Carl Evans nor a Holland & Knight attorney handling the case were immediately available for comment this morning.

[St. Petersburg Times]

Evatone got its start in 1925 when founder Richard Evans invented a new way to make rubber stamps called Eva-Type. Since then, the Evans family has continued to pioneer new innovations to meet the needs of ever-changing markets.

In 1962, Evans and his son, Richard Jr., invented the Evatone Soundsheet, which revolutionized the world of audio recording, making it easier for audio content to be delivered on a mass scale.

For more than 30 years, Evatone partnered with the Library of Congress to deliver "talking books and magazines", which opened a window to the world for many sight-disabled Americans. The Evatone Soundsheet also gave advertisers and publishers an innovative way to bring content and messages to audiences and stand apart from competitors through "flexible records."


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