Express.com files for bankruptcy
Well, it looks as though the rumours were true - according to the NetImperative news website, on March 7, Los Angeles-based online DVD retailer Express.com (formerly DVD Express) appears to have filed for Chapter 11 bankruptcy, effectively putting it into liquidation.
The company has yet to make a formal announcement itself, but it seems unlikely that the source of this information, computer games company Eidos, has anything to gain from revealing it, since it owns a 12.5% stake.
Sad though this news is, it has to be said that it's not especially surprising. Rumours of the company's demise have been circulating for the past six months, and long-term champions of its formerly second-to-none customer service have been alarmed to note a recent plunge in standards, most notoriously the time taken to ship pre-orders. It turns out that this was due to them losing their credit facilities with the major distributors, who insisted on being paid cash on delivery, which has been a key factor in Express.com's rapid decline.
More news as we get it.
Last updated: 19/04/2018 19:27:45