Auction site QXL going, going, gone

Auction site and would-be eBay competitor QXL.co.uk is to close its virtual doors at the end of May.

In an email on Tuesday, users were urged to settle any outstanding debit balances "as soon as possible".

"Any credit balances that remain in your account may be reclaimed by providing the customer-service team [with] the credit balance details... subject to any outstanding fees which are due as at 30 May, 2008, or on the closing of your account, which you will remain liable for," the email continued.

According to the email, Friday will be the last day when it is possible to list an item, with bidding set to shut down 10 days later on 19 May. The last day when it will be possible to access site tools will be 30 May.

"We would like to take the opportunity to thank everyone who joined the QXL auction community during the previous 10 years, and thank you for your custom and loyalty," the email read.

QXL, which advertised itself as the UK's "original online auction site", was set up in 1997 by a Financial Times journalist, Tim Jackson. The company survived the dot-com crash but never became a serious competitor to eBay.

At the end of 2007, QXL, by this point named Tradus, was taken over by a subsidiary of the South African multimedia giant Naspers. The acquisition became effective at the start of March this year.