A few days ago, we reported that the good old site Xoxide.com was going out of business. We really didn’t know the details of why or how other than there was a fire sale going on and the current owners were even putting the site up for sale using a bidding auction.
Well, the fire sale went on until Thursday once the bidding for the site had ended. In the end, Xoxide.com was sold for $76,000 USD and the current owners are now restocking the site in order to capitalize on all this news about the site going out of business.
This entire situation was indeed confirmed by internal sources that the old owners were indeed planning on getting rid of the site and did just that. The additional thing is that this was not a scheme to make quick sales and get rid of some items and then say they were back in business. There is new management, and frankly we're interested to see if they run the site any differently. The only problem is now that a lot of people who made orders during the fire sale are either getting orders canceled or they are worried they’ll never see their merchandise that they paid for.
So in a sense, customers may still be getting ripped off and we hope that the new owners address these concerns in an absolute manner or else they'll lose even more money than the previous owners. As it stands, we have no idea how the new site will be run… but it’s safe to assume it won’t be the exact same way the old owners did considering they no longer have any hand in how it will be run.
Editor's note: Given the details of the fire sale and cancellations of the orders that are now taking place - we would advise our North American readers to contact their Consumer Protection agencies immediately. In the case that you live in the USA, the FTC can move swiftly if you feel wronged by the old owners.
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