Interex Europe has escaped the fate of its US-parent company, which filed for Chapter 11 bankruptcy status.
The parent company, Interex, which recently went into Chapter 11 bankruptcy, has headquarters in Witchita, Kansas and makes computer accessories such as surge protectors, hubs and cables.
Chapter 11 gives the company protection from its creditors, allowing it to agree to repayment schedules and reorganize itself, with the goal of returning to normal status in a year’s time.
Interex is the parent company of XLR8, which makes Macintosh upgrade products. These are manufactured and distributed in Europe by Interex Europe. XLR8 and Interex Europe are both separate legal entities from its parent company, and therefore unaffected.
According to Nick Peart, sales and marketing director of Interex Europe, XLR8 is an extremely profitable business, which has been effectively "propping up" its parent company.
Peart said: "We at Interex Europe moved all our R&D, manufacture and packaging to our location. We were not expecting this, but we were prepared."
"Interex Europe is a highly profitable operation, and it is business 100 per cent as usual," he said, adding that February’s stock of XLR8 upgrade cards is built and ready to go.