QXL closes doors after 11 years

 

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Posted on 6 May 2008 at 17:39

QXL, one of the UK's first online auction sites, is closing its doors in the UK after 11 years of trading.

The auction site will continue taking bids up until 19 May, and cease trading on 30 May, at which time all accounts will be closed.

QXL was many people's first introduction to online auctions, but suffered badly at the hands of Ebay in later years. The company behind it, now named Tradus, has also had an up and down history, losing 99% of its stock value in the dotcom boom before recovering to be taken over by South African media company Naspers, which brought a shift in direction - with a focus on Eastern European markets.

At the time of closing, the company described the UK site as one of its smallest businesses and admitted it "hadn't put much money or investment into the site for the last two years."

The company refused to confirm how many employees would be affected, though it says they've been offered alternative jobs.

Author: Stuart Turton