QuVIS Closes its Doors

QuVIS, a Topeka technology company that tried to woo Hollywood into using its digital cinema technology, has closed its doors, the company's founder said Monday. QuVIS laid off 29 employees Dec. 1, said Kenbe Goertzen, QuVIS president and founder. The company, which has 1,900 shareholders, many in Topeka, was struggling under $40 million in debt and insufficient revenue. It fought to meet payroll in its last three months.

Goertzen was sitting alone in front of a laptop Monday at 2921 S.W. Wanamaker Drive. He said he was communicating with secured note holders and shareholders, trying to find a way to reorganize.

"I'm providing volunteer labor to see if anyone wants to reorganize in any way," Goertzen said. "It is complicated and difficult at this 11th hour. We were still getting good reviews on our products, but we have limited maneuvering with no funds."

Goertzen said it is possible the company may enter bankruptcy. He said the assets of the company were "intellectual property, furniture, inventory, receivables, name, blue sky — anything could be considered an asset under a secured note."

In the early 2000s, QuVIS, marketed itself to Hollywood and was able to digitize several movies, such as Toy Story II, Bounce, Shrek and The Perfect Storm. "A lot of eggs were put in the digital cinema basket, but that came to a screeching halt," Goertzen said.

Goertzen founded QuVIS in 1994 in Topeka after working for another technology company called NewTek. Goertzen acknowledged timing wasn't good to raise money because of the financial market meltdown. "Whether or not we can get out of here has yet to be seen," he said.

By Michael Hooper, CJOnline