Short Take: Pets.com proposes liquidation, name change
Pets.com will ask stockholders this month to vote on a plan to liquidate the company's assets and change its name. Pets.com, which closed Nov. 9, is proposing to change its name to IPET Holdings. According to its proxy statement filed with the Securities and Exchange Commission, Pets.com said it has paid $9.7 million to company executives; that included a $225,000 bonus to CEO Julie Wainwright for staying to help wind down the company.
Greg Sandoval Former Staff writer
Greg Sandoval covers media and digital entertainment for CNET News. Based in New York, Sandoval is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at @sandoCNET.
Pets.com will ask stockholders this month to vote on a plan to liquidate
the company's assets and change its name. Pets.com, which closed Nov. 9, is
proposing to change its name to IPET Holdings. According to its proxy
statement filed with the Securities and Exchange Commission, Pets.com said
it has paid $9.7 million to company executives; that included a $225,000
bonus to CEO Julie Wainwright for staying to help wind down the company.