Shuts Down

January 18, 2001 Shuts Down

Jewelry e-tailer announced Tuesday it closed its Web store and ceased its current operations. According to a company press release, it was unable to obtain additional funding to continue operations.

Dated Jan. 16, the Denmans Web site was replaced with this notice: " is officially closed. Commencing today, has closed its site and will no longer be accepting orders. We wish to thank our customers for their past patronage and support. Launched in 1999, received a 'Best of the Web' from Forbes magazine, a 'Best of the Web' from Gemkey magazine and a 'Site of the Week' from Professional Jeweler."

The company is exploring other business options, including the possibility of a merger, asset sale, additional investment in the company or financial restructuring. All employees of the company and its subsidiaries have been laid off.

- by Julia M. Duncan