We all saw it coming, but frankly I’m amazed it took so long.
The news media have been circulating the usual clichés from insiders citing external factors such as ‘the current retail environment’. Bullshit. The fact of the matter is, Ferrit never had a viable business model and seemed hell-bent on throwing money at a problem that could only be solved with smarts and balls.
A wee word of advice to any cash-heavy corporates looking to speculate on the next Interweb bubble: if you don’t believe in your product, neither will anyone else.