Smart Vultures

Bid4Assets profits from dot-com failures

SILVER SPRING, MD -- December 28, 2000  Bid4Assets, a full-service asset disposition firm specializing in assets from distressed situations, announced today that it has been commissioned to auction the remaining U.S. assets of defunct Boo.com North America. The sale includes high-end computer equipment originally valued at over $100,000. The auction will be held online from Jan. 7 - 9, 2001 at www.bid4assets.com.

Asset inspection will be held on Tuesday, Jan. 4, 2001 from 10 a.m.  1 p.m. ET in New York City. Inspections are by appointment only and can be arranged by calling Bid4Assets at (877) 427-7387 or by email at service@bid4assets.com.

Boo.com, a British-based e-retailer that had operated in 18 countries, shut down operations earlier this year due to lack of funds. The British holding company's U.S. headquarters were located in New York. Selling the assets  which includes desktop computers, laptops and monitors  is the last step for the e-commerce company in its efforts to liquidate its remaining assets. The company filed under Chapter 11 of the U.S. bankruptcy code in U.S. Bankruptcy Court in the Southern District of New York.

According to Bid4Assets CEO Tom Kohn, the company has reassigned resources to handle liquidations for this growing trend in failed dot.coms. We believe the best way to sell Internet assets is on the Internet. Our experience selling these types of assets has brought, and will continue to bring, the best return to creditors.

Boo.com has already sold everything from inventory to its back-end order fulfillment technology and domain names. Most of the assets were purchased by Fashionmall.com, which has relaunched Boo.com.


 

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