Etailer ArtSelect (IR500 #421) Goes Bellyup, Bought By Art.com (IR500 #93)

[mandy]

ArtSelect Inc., which offered posters, artwork and other wall décor through its site ArtSelect.com, was sold at auction on January 16 to Art.com Inc. for about $1.63 million, according to a21 Inc., ArtSelect’s parent company. A21 filed for Chapter 11 bankruptcy protection on December 4 at the U.S. Bankruptcy Court for the Middle District of Florida...

According to ArtSelect staff, employees were notified on January 22 and given one week’s notice that all 49 of their jobs would be terminated...

full article: http://www.internetretailer.com/dailyNews.asp?id=29216