By Pia Heikkila, 28 May 2002 12:05
NEWS Group shopping site Letsbuyit.com is selling some of its computers in a desperate bid to raise cash. The ailing Sweden-based dot-com is hosting an auction in the outskirts of Stockholm this morning where it will be selling hundreds of PCs, laptops and other computer equipment. Those wanting to place bids can also do so via Swedish web site. It can be found at http://www.it-auktion.se/ The dot-com has been teetering at the brink of bankruptcy for many months. The company announced a restructuring plan earlier this year which involved the resignation of its two-man advisory board and the closure of its Swedish operations. Last year Letsbuyit.com was forced to close down most of its European operations.
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