PracticePeople In PracticeSecond internet company falls

Second internet company falls

Internet news service Net Imperative has become the second major casualty of the new economy.

The web-based business and information news service, which launched its website in February, said it had expanded too rapidly over the last few months.

Kroll Buchler Phillips has been appointed liquidators.

  • Time is running out for boo.com, with liquidators at KPMG indicating that if a buyer is not found soon then the liqudation process will be taken to its conclusion.

KPMG has already moved to protect the company’s remaining funds by making 220 of the 250 UK staff redundant. The Big Five firm has a team of 12 business recovery staff trying to save the collapsed company.

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