posted on May 7, 2001 07:04:34 PM newUnfortunately, another one bites the dust.
To our valued clients;
We regret to announce that due to working capital concerns, Bidland Systems is indefinitely suspending operations pending the outcome of litigation commenced against a third party.
We will shut down all operations at Noon on Sunday, May 13, 2001. Please be sure that all of your lots close or are scheduled to close before 11:00 am, pacific time on that date. Please allow yourself time to retrieve any winning bidder information off the Auction Manager. The system will be completely unavailable and no information will be accessible after Noon on May 13, 2001.
If you are in need of alternatives for your auction needs, please feel free to contact xxx xxxxxx, VP of Operations directly at
xxx-292-6588 before our date of shut down.
We have appreciated the opportunity to do business with you, and thank you for your support over the last months. We wish
you well in all your future auction efforts.
Sincerely,
xxxxxxx x. xxxxx
President and CEO
Bidland Systems
posted on May 8, 2001 05:21:23 AM new
Interesting,
Just a couple weeks ago they had sent out another announcement clarifying the rumors going around of them shutting down promising they had enough funding to last a while and assuring all account holders they would be up and running for a long time.
Quite a quick turnaround......
http://www.lovepotions.net
posted on May 9, 2001 03:45:04 AM new
I just happened to have their email dated March 30th, how quickly things can do a 180
They mention more than once litigation but I never understood who with........anyone know who they are battling with?
To: [email protected]
Cc:
Subject: Bidland Systems will continue to support you
Date: Fri, 30 Mar 2001 15:40:52 -0800
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Greetings -
To quote Mark Twain “ . . . the report of my death was an exaggeration.”
Recently, in an effort to ensure that we will be able to support our customer base going forward, Bidland Systems took steps to reduce our operating expenses. In the process, certain news stories have hit the wires that may not tell the whole story and may give cause for concern to our customers. We'd like to take this opportunity to clarify our current situation.
Last fall we expended significant resources on a business venture whose fate is currently in the courts where Bidland is the plaintiff in a $500 million lawsuit. To compound matters, despite a strong model and a stable product, the fundraising ability of Bidland Systems has been adversely impacted by the “tech wreck” of these past weeks. As a result, our cash reserves have declined, and in order to “live to fight another day,” we took painful steps to dramatically reduce our monthly expenses while preserving our auction platform and its functionality for you, our customers.
Due in part to the necessary lay-offs that occurred at Bidland, news stories surfaced purporting that we are completely closing down our business. We wish to emphatically assure our customers that we have every intention of attempting to stay in business.
It is important to point out that our system was originally designed to operate with virtually no necessary support, and those of you who have used the system extensively can attest to the strength of the system in this regard. Regardless, please be aware that we plan to be able to provide ongoing support into the future, albeit with reduced staffing for the time being. You should see no deterioration in the functionality of our auction platform, or in the service provided by us. Indeed, we are actively and aggressively courting new customers. We value your business and encourage you to continue using our auction platform with no fears.
Please feel free to contact me at any time so that I may address any concerns you have. I can be reached toll-free at 877-BIDLAND, (877-243-5263) ext. 588.
