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07/09/2001 Archived Entry: "Webvan to seek bankruptcy"

Report: Webvan to seek bankruptcy - Tech News - CNET.com

Financially troubled Webvan is reportedly planning to announce Monday that the online grocer will cease operations and file for bankruptcy protection.

KTVU-Channel 2, a Fox television affiliate in the San Francisco Bay Area, showed employees clearing out their possessions from the company's Oakland, Calif., warehouse and discussing their severence pay.

In addition, the company posted a message on its Web site Sunday that said: "We're sorry. Our store is temporarily unavailable while it is being updated. It will be available again soon."

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