RealTime IT News

StoreRunner Files Chapter 11

StoreRunner Network, an Internet commerce infrastructure company that operates the online shopping portal StoreRunner.com, has filed for Chapter 11 bankruptcy. In a public statement, the company attributed the measure to a need to reorganize and protect its current assets, valued at more than $60 million.

StoreRunner.com functions as a shopping portal for more than 8,500 specific product categories, including computers, electronics, home and garden, apparel, books, auto, and health and beauty products. In June 2000, the company closed an $18 million fourth round of funding led by Compaq.

The company has received venture financing from CBS, Compaq, Polaris Venture Partners, Spectrum Equity Investors, TMCT Ventures, and individual investors.

StoreRunner is headquartered in San Diego.