Online golf e-tailer Chipshot.com
has filed for Chapter 11 bankruptcy protection, and its future remains uncertain. The site is still accepting orders, but it is increasingly unclear whether those orders will be shipped. Since January, the company has downsized staff from 200 employees to seven. Repeated attempts to reach Chipshot chief executive Brian Sroub were not successful. Chipshot filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of California in San Jose. The company launched in 1995 with financial backing including $29 million in fourth-round funding in June. Sequoia Capital and Oracle Venture Fund were among the investors.
Copyright October 2000, Crain Communications Inc.