Bidz.com announced closing operations and planning to liquidate, reports say. The website of this leading jewellery e-tailer closed all web sales on June 12, although the website has been existing on the internet, but with a ‘temporarily under construction’ notification appearing, for some days thereafter, reports add.

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.