In60.com, the one-hour videos and snack delivery service which
became one of the highest-profile dot.coms in Scotland, has been
closed by its receiver after failing to find a buyer. Ernst &
Young said it has begun selling the assets of the company.
Only three staff had remained at in60 until the end. Investors
are not expected to recover any of their £1.1 million investment,
according to a report in today’s edition of BusinessAM. Ernst &
Young told BusinessAM that interested parties had come forward but
were not willing or able to meet the undisclosed asking price.
Ian MacCallum who founded the business last year blamed the
company’s failure on investor sentiment. In60 launched in Edinburgh
and claimed to be profitable there when it later rolled out its
service in Glasgow. It had 18,000 registered users.
