RealTime IT News

Future Uncertain at Liquor.com

What's on the horizon for Liquor.com? The wine and spirits e-commerce company took a hit last October when it withdrew a proposed initial public offering of 3 million shares.

"We're trying to figure that out now," CEO Barry Grieff told InternetNews.com. "I am presently in dialogue with our board of directors."

The company had hoped to raise nearly $25 million in working capital. On Thursday, the company's Web site was not accessible and calls to the main number went unanswered.

"Since the IPO was withdrawn we have been in a state of flux, but we are reorganizing and trying to hold it together" Grieff said during a brief telephone interview. "I really cannot say more than that right now."

He noted that he is in talks with investors and anticipates that issues will be resolved in the next week or so.

At the time of the IPO withdrawal, Grieff said he believed it was best for Liquor.com to move forward as a private company. "We have secured additional private financing and are well positioned for future growth. The company will address the public market when conditions improve."

Other officials at the Chicago-based company were either let go or could not be reached for comment.