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Page: Profile: Wren's Nest News Local
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Article: 4151
[Media]
Date Posted:
4/14/2002
8:17:10 pm EDT
Wvox Stats
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Comments: 0
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Beliefnet.com Files For Chapter 11 Bankruptcy Protection
Author: Associated Press Source: The Billings Gazette
Title: BELIEFNET.COM SEEKS DEBT PROTECTION
Beliefnet.com, an Internet site aimed at feeding Americans' interest in religion and spirituality, has filed for Chapter 11 bankruptcy protection.
Steve Waldman, Beliefnet.com's chairman and chief executive officer, said the company, which began operation in December 1999, asked for bankruptcy protection Thursday night.
To date the company has spent at least $25 million, invested by venture capital firms. Most remaining employees were laid off last week. The site continues to operate with a skeleton staff of nine, compared with more than 50 at its height.
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