Monday, November 24, 2008

Online Retailer Sells Itself... Online?

I recently received an e-mail from Eric Lituchy, the founder and CEO of Port Washington, N.Y.-based, an online gift retailer.

Under pressure from the economy's financial crisis, the company is selling its assets on eBay, and starting bids go for $10,000. Sales for the retailer fell 15.4% to $5.5 million in 2007 from $6.5 million a year earlier. Click here to see the ad. Update!: Five bids, three bidders. Final sale: $50,000.

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