Some do not fly!
Amazon-backed Living.com closes its doors
By Troy Wolverton
Staff Writer, CNET News.com
August 15, 2000, 1:30 p.m. PT
Amazon.com-backed Living.com today said it has closed its doors, laid off 275 employees, and will file for bankruptcy.
Amid rumors circulating about its future, the online home furnishings store closed its site to incoming orders, saying in a news release that it will file for Chapter 7 bankruptcy.
"The decision to close our store was an extremely difficult one," Shaun Holliday, chief executive of the Austin, Texas-based company, said in a statement. "Despite our employees' tremendous efforts and the loyalty of our customers, the recent downturn in the capital markets has substantially impaired our ability to raise the capital required to achieve profitability. After exhausting all apparent alternatives, we have no choice but to file Chapter 7."
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