[rumori] eToys in death spiral

From: Porsupah (porsupahATringtail.com)
Date: Mon Feb 05 2001 - 22:50:22 PST


"eToys terminates remaining employees

LOS ANGELES (Reuters) - Struggling Internet toy seller eToys Inc.
(ETYS.O) said on Monday said it has told the remaining members of its
staff they will be out of a job this April in yet another sign the
company's days may be numbered.

Los Angeles-based eToys, said 293 employees at distribution centers
in Ontario, Calif., and Blairs, Va., will be let go on April 6,
comprising the rest of eToys roughly 1000-member staff after 700 jobs
were slashed back in January.

The once high-flying technology company said it continues to work
with financial advisors at Goldman Sachs & Co. to find a buyer, and
unsecured creditors have agreed to postpone debt collection until a
standstill agreement ends after Feb. 15."

  Almost worth buying a single share for a stock certificate to bury
and dance on. :)

-- Porsupah
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