We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
 
75,052 News Articles

Boo goes bust

Just the beginning, says PwC

Boo.com has collapsed, earning the title of first high profile ecommerce casualty, while PricewaterhouseCoopers (PwC) has warned this trickle could soon be a flood of dying dot coms.

The online fashion retailer collapsed after it failed to raise the £20m in additional funding needed to keep the business afloat. 300 UK jobs were lost.

It was initially launched last year with £80m in funding, much fanfare and many delays due to technical problems.

The company suffered cash flow problems and failed to attract high volumes of customers - largely due to the high bandwidth required to satisfactorily access the site.

The report from accountancy giant, PwC, revealed that up to 25 per cent of e-commerce companies could fail within the next five months as they run out of cash.

It follows a wave of recent analyst warnings about the fragility off the dot com economy.


IDG UK Sites

Netflix to introduce price increase: New subcribers to start with

IDG UK Sites

Apple financial results: iPhones, iPads & Macs sales for Apple's Q2 2014, plus shares to split

IDG UK Sites

Twitter - not news

IDG UK Sites

See Moo Studios' new animated advert for Blue Moon beer