March 27, 2001 |
Scholastic Corp., publisher of the Harry Potter series of children's books, said it decided against buying the inventory of bankrupt EToys Inc. New York-based Scholastic had said it won an auction for the Santa Monica Internet retailer's inventory with an offer of 30 cents on the dollar, or about $8 million. The news sent Scholastic's shares plunging $5.19, or 13%, to close at $35.13 on Nasdaq.
March 8, 2001 |
EToys Inc., one of the Internet's flagship companies, filed for bankruptcy protection Wednesday, becoming the biggest online company yet to fail amid the devastating dot-com shakeout. More than the demise of a single company, the collapse of EToys shows just how far Bill Gross and his Pasadena-based Idealab Inc. have fallen. Besides EToys, Idealab churned out early Internet hits such as Web search engine GoTo.
February 27, 2001 |
Online retailer EToys said Monday that it will file for bankruptcy and advised shareholders its stock is "worthless." The once-promising toy seller had said this month that it was laying off all its employees after disappointing holiday sales crippled its operations. On Monday, EToys said it would shutter its Web site around March 8 and that it would file for protection from creditors under Chapter 11 of the Bankruptcy Code within 10 days.
February 6, 2001 |
Internet toy retailer EToys Inc. cut its remaining 293 employees Monday, telling workers who weren't laid off last month that they would be needed only through April 6. The final blow affects workers at EToys' distribution centers in Ontario, Calif., and Blairs, Va., who had been told that the company would continue shipping goods as long as it could, though executives believed EToys' cash would last only through the end of March.
January 18, 2001 |
RemedyTemp Inc., a national temporary-staffing firm, said Wednesday it expects to take a charge of about $2 million for the last quarter because of unpaid invoices by the struggling online company EToys Inc. The one-time charge would represent nearly a third of RemedyTemp's expected pre-tax profit for its fiscal first quarter ended Dec. 31. And it reflects how the fallout of the dot-com industry has trickled down to suppliers and service providers like RemedyTemp, which is based in Aliso Viejo.
January 11, 2001 |
EToys Inc., which already has begun closing its European operations and laying off 70% of its domestic staff, said it has stopped shipping merchandise to Canada. The Los Angeles-based online toy retailer, which is searching for an investor or buyer, said notification of the change was scheduled to be posted on its Web site Wednesday night. EToys does not break out Canadian sales, but a spokesman characterized that portion of the business as "very insignificant."