Sounds right. A direct print onto white shirts type of machine.
Actually, if I remember correctly, it was the dive into the machines that had white ink capability to print onto dark shirts that really sealed his doom. This was bleeding edge technology at the time.
Another one of the mitigating factors was selling the pie-in-the-sky dream of turn-key operations for entry level entrepreneurs with no experience and limited mechanical abilities, and no back-up when the single machine they owned developed something as common as a head clog. (something not unheard of with inkjet printers)