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Kozmo to close

Published on .

New York-- Online delivery serviceKozmo Inc. said it will liquidate assets and fire 1,100 employees because it was unable to close a white-knight deal with PDQuick.com Inc., a Los Angeles-based company. The deal is significant to b-to-b marketers because Kozmo and others delivering consumer packaged goods from Internet orders were once considered the wave of the future. Now, investors are weary of putting their money behind such ventures, and traditional retail channels are still a manufacturers' best bet for marketing support.
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