USA: Closure of Kozmo.com, CEO blames slump in market and earlier decisions
Kozmo.com is set to shut down and liquidate its assets, the latest in a long line of online casualties battered by falling funds, slumping markets and unwilling investors. Founded in 1998, the privately owned company was forced to cut its losses and close while it could still afford severance pay packages for the majority its 1,100 employees, 475 of which are situated at its head offices in Manhattan.
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