Nutritional supplement maker Dr. Koop LifeCare Corp. packs it in
One week after launching a sponsored program on ShopNBC TV and ShopNBC.com, (C. Everett Koop to star in ShopNBC segments pitching his products ) Santa Monica, CA-based Dr. Koop LifeCare Corp. says it will file for bankruptcy under Chapter 7 of the U.S. Bankruptcy code and liquidate assets. The company headed by the former surgeon general says it was unable to secure additional financing it needed to continue. The company had planned to sell its branded dietary supplements on ShopNBC. In November, it reported a net loss of $7.2 million for the third quarter ended September 30, on revenues of $3.2 million.
The company, which had produced and aired its first show and webcast on Shop NBC on Dec. 13, had been contracted for additional programs on the TV/web channel; those shows are now cancelled. A spokesman for ShopNBC says the company will look for another health and beauty category sponsor to fill the slot in its upcoming spring programming lineup.
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