Last month on 26th a motion was filed by the company’s five vendors, wanting the company to go into a Chapter 7 filing, reports add. The motion was filed at the Los Angeles federal court. Also, reports state that according to Insolvency Services Group, a company controlling Bidz.com’s assets as of now, the latter owes $19 million to a lender and $8.4 million in unsecured trade and expense debts.
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