Forum Archive Index - May 2000

["DaveM" <Dave_Matheson@hotmail.com>]

Well the UK have just had their first .COM fatality, BOO.COM.. a privately owned company backed by launched only 6months ago which intended to sell high fashion sportswear to the young trendie market. BOO.COM called in the receivers this morning after running out of cash, 200 will lose their jobs in the UK and 100 in the US. BOO.COMS difficulties are believed to be due to BOO.COMS venture capital partners pulling out and lower than expected sales, this was possibly because BOO.COMS website was slow and painful to navigate with a sale taking up to 30mins to complete. (Interestingly enough BOO.COMS website is still active at the present time). Most UK Internet related shares closed marginally lower following the news.

 

Will be interesting to see what happens to the other .COMS over the next few months, I believe that customers who have made purchases from BOO.COM and have not yet received their goods will now join the line behind creditors such as the Employees, Investors and the Inland Revenue.

 

I wonder if this will have an effect on the general public when it comes to making their decision to purchase goods online.

 

Dave