LetsBuyIt.com gets permission to resume trading

Internet Business News, Feb 22, 2001

INTERNET BUSINESS NEWS-(C)1995-2001 M2 COMMUNICATIONS LTD

Dutch courts have lifted the moratorium they granted the Internet retailer LetsBuyIt.com last December, after the company recently raised EUR53m from a consortium of investors.

LetsBuyIt.com now plans to immediately resume trading in its key markets. Having realigned the business to operate from four European hubs - in France, Germany, Sweden and the UK - the company intends to concentrate the bulk of its operations in its most successful markets. The remaining European countries will be handled by the four hubs and are expected to be brought online during 1H'2001.

LetsBuyIt will also be making changes to its product assortment reflecting the preferences of its buying members.

((Comments on this story may be sent to info@m2.com))