NEWS Troubled group buying website, Letsbuyit.com, will announce its latest restructuring plans later today as it bids to survive. The dot-com is understood to be about to file for bankruptcy. The restructure will also involve the resignation of its two-man advisory board and the closure of its Swedish operation saving it an estimated £3m. Last year Letsbuyit.com was forced to close down most of its European operations. At the end of December it lost one of its original founders and former CEO Fredrik Staël von Holstein.
Letsbuyit gives it one more go
If you don't fail at first try, try again...
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