Playtime's Over for eToys

Share this content:
eToys, Los Angeles, said yesterday that it will file for protection under federal bankruptcy laws within the next five to ten days.


The decision was based on the results of its efforts to pursue strategic alternatives and its conclusion that its outstanding liabilities, which totaled approximately $274 million as of January 31, 2001, will substantially exceed the value of any proceeds or assets that may be received in a stratetgic transaction.


The company further said that its outstanding equity securities, including both its common stock and its Series D preferred stock, have no value, and encouraged anyone considering an investment in these securities to consider its conclusion that they are worthless.


The company has also notified Nasdaq that it will not be able to meet its minimum net tangible assets requirement, and anticipates its common stock will be delisted from trading in the very near term.


close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above