Value America Files for Chapter 11

Share this content:
Value America filed for Chapter 11 bankruptcy proceedings Aug. 11 and terminated 185 employees in its retailing operation as a result. The news came in a Value America statement making little mention of anything but their Internet ventures.

The company has discontinued business, but will continue with its e-services development efforts during its reorganization. Visitors to are alerted to the proceedings and instructed that any orders taken on or before Aug. 11 will be fulfilled.

"The decision to shut down our Internet retailing business was difficult," said chairman and CEO Glenda Dorchak in the statement. "Despite tremendous efforts on the part of our employees and the loyalty of our vendors and customers, it has become apparent that the prospect for near-term provinciality of a company engaged exclusively in the retail side of the electronic commerce industry is not assured."

The statement also said the company expects its Internet ventures would emerge alone from the proceedings as "it subjected its e-services business plan to due diligence reviews by potential commercial partners and received favorable feedback."

Next Article in Marketing Strategy

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