November 30, 2001, 12:00 AM

The final final end of Garden.com

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

Kurt Peters

Executive Editor

Garden.com 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. Garden.com 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, Garden.com 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 Garden.com 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 Garden.com will make further distributions. If made, any subsequent distribution is unlikely to exceed $0.02 per share.”

Garden.com went public in mid 1999. Its shares reached a high of $24.

 

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

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 ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

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

Advertisement