Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
Webvan, the Foster City, California, online grocer with home delivery in seven cities, has ceased operations after only two years in business. In that time, it lost roughly $830 million. Webvan’s 2000 employees have been terminated. Prior to the announcement, Webvan stock dropped one cent from its Friday, July 6, closing price of six cents per share.
A company press release said that Webvan had made significant progress in slowing its operating losses and cutting its high cash-use rate. However, the company announced that it would end all operations and sell assets. Although the bankruptcy filing will be under Chapter 11, Webvan has no plans to resume operation.
The Webvan decision affects other online grocers as well. The company owns HomeGrocer.com. The HomeGrocer web site now carries the message: "Webvan has ceased operations. If you have a scheduled delivery, you will not be receiving it, and you will not be charged."
Three online grocers remain in operation in the US: GroceryWorks, Netgrocer.com, and Peapod. The stock price at Peapod rose 21 cents per share following the Webvan announcement. Some analysts predict that Webvan customers will migrate to Peapod. Two large supermarket chains, Safeway in the US and Tesco of the UK, own a stake in GroceryWorks. Safeway recently sold 35% of GroceryWorks to Tesco. Netgrocer is the smallest of the three, operating from one distribution center and using FedEx as its delivery arm.
Investors affected by the shutdown include Louis Borders, founder of Borders Stores, a book and music retailer. He owns more than 10% of Webvan. Amazon.com is another large shareholder.
