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Webvan Group Inc. packs last groceries

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Foster City, Calif.--Once vaunted as an example of how the Internet can reshape customer service and retail sales, Webvan Group Inc. on Monday ceased operations and filed for Chapter 11 bankruptcy protection. The company had been operating in such markets as Chicago, Los Angeles and San Francisco, but sluggish consumer spending, bearish investors and the economic downturn cost the company its future. Webvan CEO Robert Swan said in a statement that he believes the business model of taking Internet grocery orders and physically delivering them for a small premium would work if the economy were stronger.
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