Tuesday, May 23, 2000
Toy e-tailer calls it quits
The Associated Press
BOSTON — Toysmart.com is shutting down its online educational toy store after it failed to compete with bigger rivals on the Web, including eToys and Toysrus.com.
Shoppers logging into the site, of which Walt Disney Co. owns a majority stake, found a notice saying it was closed for inventory, but a spokeswoman confirmed Monday that the Waltham, Mass.- based company was ceasing operations.
“The online toy market is an incredibly competitive business that has some very strong players,” said Michelle Bergman, a spokeswoman for Go.com, which oversees Disney's Internet businesses. “After careful review ... we concluded that ceasing operations and maximizing assets was the best course of action for Toysmart.com.”
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Toy e-tailer calls it quits
