USA: Online marketplace suspends business model
WorldJuiceTrade.com, the online marketplace for the bulk juice industry has said that it has had to "suspend indefinitely the implementation of its business model". The announcement is no surprise coming as it does after the site's sister operation, WorldWineTrade.com, announced similar measures last week.
Market oversupply and the current downturn in the economy were blamed for the problems facing the company.
In a statement the company said WorldWineTrade.com intended to continue operations with a reduced workforce, but that it was simultaneously seeking a buyer and exploring the creation of an industry coalition to support the forum.
WorldJuiceTrade, meanwhile, was also seeking a buyer or an industry coalition.
"We are working hard to find a way for WorldJuiceTrade.com to continue to provide service and information to the industry," co-founder Mike MacDougal said.
Fruit Juices: The
- What Brexit means for drinks industry? - Analysis
- The post-Brexit winners and losers - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Interview - Seedlip founder, Ben Branson
- Customisable drinks - The next consumer trend
- The UK Referendum - just-drinks Live Blog
- Pernod Ricard exec shuffle - Denis O'Flynn leaves
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- C&C Group will be a Brexit victim - analyst
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends