Eziba Enters Bankruptcy, Sells Assets to Overstock.com
The story of troubled DMer Eziba ended Friday when it entered Chapter 7 bankruptcy and sold all of its assets to Overstock.com, a local newspaper reported.According to the Massachusetts-based North Adams Transcript, Eziba's assets were released for sale Friday, and its inventory, trademarks, the Web site Eziba.com, the company's URL and its customer and vendor databases were sold to Overstock.com for $500,000.
Eziba was served with an involuntary bankruptcy lawsuit Feb. 22 after suspending operations in January due to financial difficulties. The company said its problems started with a mistake in mailing its fall catalog, which was sent to a list of infrequent buyers instead of frequent buyers.
