News Burst: bites the dust goes under as UK dotcoms prepare for what could be a tough period ahead

British Internet news service has gone into liquidation following an emergency board meeting Monday.

A statement from the company blames its collapse on ill-judged attempts to expand. It reads: "In making this announcement, the executive directors recognise that the decision to seek to expand the company rapidly in the last few months led to the current position."

This comes just days after British online retailer folded. It will add to current market concerns that the Internet goldrush could be drawing to a close.

Full story to follow...