A Message from DBi Services:
October 25, 2021
DBi Services today confirmed that due to continued operating and financial challenges, and sudden and unexpected setbacks, particularly the decision of its primary lender to discontinue all funding, the Company determined that a wind down of substantially all of its business is necessary at this time.
Macroeconomic forces as a result of the COVID-19 pandemic, including supply chain disruptions, higher material costs and the labor shortage, coupled with increased financial requirements from sureties and lenders, impeded the Company’s ability to successfully execute and finance its projects.
The Company explored every viable alternative to avoid this outcome, working together with its outside advisors, investors, lenders and sureties to try to identify a resolution to address the issues at hand and enable the Company to move forward. The Company’s Digital Traffic Systems, Inc. subsidiary, which has not experienced the same challenges, is continuing to operate and serve customers.
DBi Services deeply regrets the impact on its valued employees, customers, suppliers and partners, and is working diligently to manage as smooth a transition as possible.