Biz2Net Closes Doors; Equipment Auction Scheduled.(Brief Article)

Tape-Disc Business, January, 2001

The long saga of Millbury, MA-media manufacturer Biz2Net--formerly known as Omni Multimedia and Omnet Technology -- came to an end last month when the company shut down after filing for bankruptcy, according to local reports.

Coast Business Credit, Biz2Net's major secured lender, tried to sell the CD replication and audio cassette duplication company to Haverhill, MA-based GlobalWare Solutions, an international software replicator, but the deal fell through. Coast reportedly wanted to sell Biz2Net for $1.8 million in an effort to recoup a portion of an outstanding $3.8 million loan.

A TDB phone call to Biz2Net confirmed that the company shut down on December 12. The company employed 150 people when it went out of business.

Biz2Net was...