KPMG Reportedly Close to Sale

Share this content:'s assets could be sold off as early as this week, according to reports.

London-based KPMG, the company hired to liquidate the firm, held discussions with several interested parties over the weekend trying to sell as a going concern, according to Reuters.

KPMG briefed employees about the progress of a sale but did not disclose any details. KPMG has asked interested bidders for a $1.49 million deposit to secure a place on the list of serious buyers. About 30 of's employees have been retained to assist with the sale; though none of its employees has been laid off, they have not been paid in a month., a sports and clothing e-tailer, collapsed last week after only six months of operations. Apparently, the company spent the bulk of its $135 million seed money on marketing and advertising. According to reports, the company still owes $25 million to advertising agencies.

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