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.
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