18/12/2001
Excite UK to cease operations by end of week
Excite UK has announced that it will close its operations after failing to find a buyer.
The UK wing of the bankrupt US portal Excite@Home, which is a joint venture between the Excite At Home Corp and British Telecom, had tried to find a strategic partner for several months.
It has now been forced to shut down and says it will cease normal trading at the end of this week. The decision will result in the loss of 48 jobs.
In a statement, the company said: “Having completed a 30-day consultation period with employees, Excite UK regrets that it is to make all 48 staff redundant as a result of the closure of the portal, www.excite.co.uk.”
Rebecca Miskin, managing director of Excite UK, says: “The decision to cease trading is both unavoidable and deeply regrettable. Our priority now is to our users and our employees and to ensure that the closure is managed in an orderly fashion.
“I am saddened by this decision and would like to express my gratitude to the hardworking, committed team here at Excite UK.”
Any money remaining after the company has been closed down will be shared between BTopenworld and Excite@Home.
Excite@Home filed for Chapter 11 bankruptcy protection in the US at the end of September. On December 14, the company said that it would cut US staff by 400, or 30 per cent, and expected to cease operations by February 2002. BTopenworld owns 42 per cent of Excite UK. (AMcE)
The UK wing of the bankrupt US portal Excite@Home, which is a joint venture between the Excite At Home Corp and British Telecom, had tried to find a strategic partner for several months.
It has now been forced to shut down and says it will cease normal trading at the end of this week. The decision will result in the loss of 48 jobs.
In a statement, the company said: “Having completed a 30-day consultation period with employees, Excite UK regrets that it is to make all 48 staff redundant as a result of the closure of the portal, www.excite.co.uk.”
Rebecca Miskin, managing director of Excite UK, says: “The decision to cease trading is both unavoidable and deeply regrettable. Our priority now is to our users and our employees and to ensure that the closure is managed in an orderly fashion.
“I am saddened by this decision and would like to express my gratitude to the hardworking, committed team here at Excite UK.”
Any money remaining after the company has been closed down will be shared between BTopenworld and Excite@Home.
Excite@Home filed for Chapter 11 bankruptcy protection in the US at the end of September. On December 14, the company said that it would cut US staff by 400, or 30 per cent, and expected to cease operations by February 2002. BTopenworld owns 42 per cent of Excite UK. (AMcE)
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