Online auction firm Xbidit has been put on ice after all its directors found other jobs in the industry. The Northamptonshire-based firm, which launched last year, was forced to suspend trading because of a lack of second-round funding.
Managing director Alistair Handyside said that, while he and other directors would still like to relaunch the company, all five directors and major shareholders, including himself, had found alternative employment, along with many other full time staff.
"That is why we have agreed to keep the name, put the business to one side and only resurrect it when we have all looked at it from an individual, group and then business point of view," he explained. "If the market gets worse, Xbidit is never going to come back, but we don't know the exact answer at this point in time."
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