Boxman goes titsup.com

CD retailer 'nears liquidation'

Boxman.com, the online CD retailer, is close to liquidation after failing to find more funding, according to the FT.

The company suspended its Website on Monday and is asking its shareholders and creditors permission to go into voluntary liquidation.

Boxman was unfortunate in its timing - the Swedish-founded, London-based company had planned to float in April, according to the FT, but pulled the IPO, following the crash in Internet stock valuations that month. As we now know the market has never recovered those February/March heights.

Apparently, the company is in talks with a potential buyer. ®

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