Contrary to reports carried on last week and circulated around the food sector as a result,, the online marketplace focusing on the US meat sector, has not closed down but is “rethinking its strategy.” Chief Marketing Officer Tom O’Connell has reportedly admitted that the disclosure of the company’s financial plight was an “embarrassing public relations gaffe.” The disclosure came from company founder Rod Heller, who O’Connell claims now has a limited role in the company’s day-to-day operations.

O’Connell did not deny that is in serious trouble, but is reported to believe a deal can be hammered out with one of a number of potential buyers that could help turn the group around. An announcement is expected in the next couple of days.

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