HealthCentral.com
This article was originally published in The Tan Sheet
Executive Summary
E-tailer reduces workforce 43%, cutting 60 employees to lower operating costs. Roughly 80 employees remain with the company, which is downgrading revenue predictions for third quarter ending Sept. 30. Second quarter sales fell 11.1% to $9.6 mil. Firm's listing was transferred to NASDAQ SmallCap Market effective Sept. 21 after company failed to maintain required market value and net tangible assets/stockholder equity. HealthCentral's board approved a 1-for-50 reverse stock split in June in an effort to stave off delisting
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E-tailer and subsidiaries, including Vitamins.com and WebRx.com, file for Chapter 11 bankruptcy protection, firm announces Oct. 9. Company says it "intends to proceed with a sale of its assets...in an effort to maximize the value of the business for all of its stakeholders." In September, HealthCentral announced a 43% workforce reduction and saw its stock transferred to the NASDAQ Small Cap market (1"The Tan Sheet" Oct. 1, p. 13)
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E-tailer and subsidiaries, including Vitamins.com and WebRx.com, file for Chapter 11 bankruptcy protection, firm announces Oct. 9. Company says it "intends to proceed with a sale of its assets...in an effort to maximize the value of the business for all of its stakeholders." In September, HealthCentral announced a 43% workforce reduction and saw its stock transferred to the NASDAQ Small Cap market (1"The Tan Sheet" Oct. 1, p. 13)
HealthCentral
E-tailer and subsidiaries, including Vitamins.com and WebRx.com, file for Chapter 11 bankruptcy protection, firm announces Oct. 9. Company says it "intends to proceed with a sale of its assets...in an effort to maximize the value of the business for all of its stakeholders." In September, HealthCentral announced a 43% workforce reduction and saw its stock transferred to the NASDAQ Small Cap market (1"The Tan Sheet" Oct. 1, p. 13)