Adding yet another dot-com shutdown to the ever-growing list, e-tailer Babygear.com has closed shop and filed for bankruptcy liquidation.
A posting on the company's Web site says that the baby-products store is "unable to take orders, ship orders or issue credits," and urges customers to contact their credit card companies to get credit for items not received.
"Any further matters will be handled by the court," the message continued.
Casualty List
The e-tail sector has been particularly hard hit of late, as Garden.com, Pets.com, Furniture.com and Beautyjungle.com are just a few of the sites that have gone out of business in recent weeks.
In a study released last month, consolidation tracking firm Webmergers found that dot-com companies have been shutting down at the rate of about one per day since October 1st.
One-third of the 131 Internet failures so far this year folded in the last seven weeks leading up to the study, Webmergers said. During the first two weeks of November alone, there were 21 closures.
E-tail Woes
Internet stores targeting consumers are now finding it harder to get funding, as backers want to see evidence of profits before investing. As the holiday season approaches, many e-tailers are finding it even more difficult to make ends meet.
Some companies have closed gradually, laying off staff and leaving a few workers to wind down operations and fill existing orders. In Babygear's case, however, customers are left to fend for themselves.
"We understand this experience is frustrating," the company said in the message on its Web site. "However, this is all the information we are able to provide. We apologize for any inconvenience and hope this information will help with the transition."
iVillage Stake
Last summer, online women's network iVillage sold its baby-products unit to Babygear.com. As part of the deal, iVillage took an undislosed equity stake in Babygear, and signed on to several five-year sponsorship agreements with the company.
The sale was part of a plan by New York-based iVillage to focus its attention on being an Internet content provider, while staying involved in e-commerce through sponsorship agreements.
At the time of the acquisition, Preston Bealle, Babygear's chief executive officer, told the E-Commerce Times that his company was trying to run its site "like a business, not a technology," and that Babygear.com hopes for longevity.
Babygear customers visiting the company's site are directed to click on the
logos of three other e-tailers: BabyAge.com, Alight.com and iMaternity.
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