Netimperative in liquidation

Confusion surrounds the fate of the latest dot-com failure,

Confusion surrounds the fate of the latest dot-com failure,

The company, a new media news wire service operating over the Web, has released a statement implying that it has reached the end of the road just a couple of months after going live, and only six months since its inception.

The company says: “The executive directors recognise that the decision to rapidly expand the company over the past few months has led to the current position, and (they) regret that there was no alternative than for the company to commence liquidation proceedings.”

But some of the Netimperative staff are under the impression that several new backers are ready to bail the company out. There are even rumours that Netimperative has fallen out with one of its biggest backers, Durlacher, and is actively seeking a replacement backer.

Felicia Jackson, Netimperative chief executive, remained tight-lipped as Marketing Week went to press. “It doesn’t do any good to speculate,” is all she would say.

Meanwhile, Netimperative’s own website carried a story which stated that despite the encroaching liquidation, “for now it is work as usual”.

The move, which comes just days after the demise of fashion e-tailer, highlights the precarious nature of dot-com funding in today’s much harsher investment climate. Netimperative, like most recent dot-com launches, was hopeful that advertising would fund its business model.

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