E-tailer Boxman seeks liquidation

Online CD retailer Boxman is seeking voluntary liquidation after failing to raise vital cash needed to keep trading.

The company's collapse would make it the highest profile business-to-consumer dot-com casualty since fashion e-tailer boo.com in May. Since then, several dot-com businesses have crashed including health retailer clickmango and games site UR Wired.

Boxman withdrew its £300m IPO in April. The company suspended its Web site Monday, and is currently requesting approval from investors and creditors to go into voluntary liquidation.

One potential buyer may be in the running to save the company from collapse.

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