goes under after months of slowly drowning

As we had mentioned previously, online retailer has been in serious financial trouble for quite some time now. Not unexpectedly, the company has filed for Chapter 11 Bankruptcy Protection in U.S. District Court last week, although their website is still active and takes online orders for music, DVDs and games.

Obviously the company’s plans to diversify not different areas did not yield the desired results, instead pulling the company under further and further. A bankruptcy counsel is now representing with respect to their responsibilities and financial obligations towards unpaid creditors.

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