Letsbuyit.com very very nearly titsup.com
We don't want to say we told you so, but...
Flawed online bulk buyer Letsbuyit.com needs £50 million by tomorrow or it will join the most illustrious of the titsup.com companies.
The company with big plans but an unsustainable business model stopped trading just before Christmas. It called in the administrators but even they couldn't find a way of saving the site. A few at the company are still clinging to the belief that someone will be daft enough to stump up £50 million to be sucked into the vortex. It seems somewhat unlikely.
We can't say how the impending doom has affected the company's share price because its shares were suspended when it called in the receivers.
Letsbuyit is up there with Boo, Clickmango, Boxman and TheStreet.co.uk is terms of high-profile dead ducks. All of them were borne out of that year of Internet madness when the world saw the gold rush start all again, and with the same catastrophic results. They'll all make an interesting bootnote in history. ®
CoShopper in talks to buy Letsbuyit.com
Letsbuyit.com bosses resign en masse
Letsbuyit shares go down the toilet
Letsbuyit.com teeters over debt abyss
Letsbuyit wants £48m to help it into the black
Wanted: Strategic buyer for Letsbuyit.com
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Letsbuyit boosts sales and slashes staff
Letsbuyit.com ducks out of float
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Letsbuyit.com float on again
Letsbuyit.com pulls out of IPO (again)