November 30, 2001, 12:00 AM

The final final end of announced it would pay shareholders what it expects to be its final liquidation payment of 4 cents a share.

Kurt Peters

Executive Editor Inc., once the darling of analysts and investors as a model of online retailing, wound up its liquidation this week, a year after it announced it was shutting down operations. will make a final distribution of 4 cents a share to stockholders. Earlier this year, it paid shareholders 20 cents a share.

“With this distribution, has substantially completed the winding up of its affairs pursuant to the terms of its Certificate of Dissolution filed on January 16, 2001 with the Delaware Secretary of State,” the company said in a statement announcing the liquidation. “Accordingly, following the completion of certain remaining activities, the Board of Directors has authorized that the remaining assets of be placed into a liquidating trust as of December 31, 2001 to fund remaining liabilities (e.g., taxes, professional fees and other dissolution-related expenses). It is uncertain whether will make further distributions. If made, any subsequent distribution is unlikely to exceed $0.02 per share.” went public in mid 1999. Its shares reached a high of $24.



Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!




Relevant Commentary


Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...


Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of that will let customers and Quill ...