Online grocers close doors

Online grocer, just days after competitor Webvan closed its doors, has shut down operations. The move is the latest setback to the once-high expectations for Web retailing.

In a statement, officials said the company suspended operations after failing to raise additional capital. Officials said no charges would be made for unfilled orders.

Webvan closed early last week, after struggling through several months on the brink. Webvan, had raised hundreds of millions of dollars since its founding, dismissed about almost 2,000 workers last week.

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About the Author

Mike Bucken is former Editor-in-Chief of Application Development Trends magazine.