Commerce One runs out of cash
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SEPTEMBER 24, 2004 (IDG NEWS SERVICE) - After spending several years in a protracted death spiral, Commerce One Inc. is finally on the verge of ending its misery by running out of cash.
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Software maker Commerce One Inc., seen as a poster child for the dot-com bust, is down to its last $300,000 in operating cash, has laid off most of its staff and expects to file for bankruptcy.
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Internet software developer Commerce One Inc. on Friday said it laid off about 61 percent of its staff to conserve cash ahead of plans to close down its business, sending its stock plunging during morning trading.
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Lately, the company's retail operation has been lagging behind sales of its locations.
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