Retail Industry
Industry: Email Alert RSS FeedFurniture.com discontinues operations - Brief Article
DSN Retailing Today, Nov 20, 2000
FRAMINGHAM, MASs. -- Furniture.com, the once-leading on-line retailer of furniture and home furnishings, discontinued operations earlier this month and laid off 76 of its 88 employees. The company cited difficulty securing sufficient capital to fund operations as the principle reason for closing down the business.
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The 12 remaining employees will ensure the professional management of matters relating to the closure, including the review of available options for sale of company assets. The company reported $22 million in net revenues for the nine months ending September 2000.
COPYRIGHT 2000 Lebhar-Friedman, Inc.
COPYRIGHT 2000 Gale Group
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