Boxman pulls the plug, Per and Marie both stand to lose money
Written by roxeteer on October 11, 2000 to Misc.
Boxman, the Swedish-founded online record store, ceased its operations on Wednesday in an attempt to avoid bankrupty. According to chief executive Tony Salter, the company has until October 23 to find $29 million to be able to continue their business. Another possibility is to find a company which would buy Boxman and its operations – pretty much like CDNow which was bought by Europe’s largest media company Bertelsmann AG for $117 million just after the company would have found itself without cash.
Per and Marie both are among Boxman’s 500 shareholders – along with other Swedish music business insiders, such as members of Ace of Base. According to Hallandsposten, Per has invested 3 million SEK (approx. $303,000) and Marie about half of that. They both made their investments through their holding companies: Music For Money (Gessle) and Amelia Music (Fredriksson). They both still own most of the shares they bought back in 1997.
“Unfortunately,” said Mats Nilemar, one of their business advisors.
Other articles with the same topic
- Roxette interview from the rehearsals (February 18, 2011)
- Ask Per a great question (February 7, 2011)
- Rock Band 3 features Roxette (September 8, 2010)
- Dolph Lundgren mentions Per in UK interview (August 22, 2010)
- Record "The Look" and win $5,000 shopping spree (August 11, 2010)
3 comments
steven said on October 13, 2000 08:45:
I can’t say I’m surprised at this news... I’ve experieced many, many problems with Boxman. Incredibly, they have even sent me CD’s which: a) I never ordered, and, b) Which they have never charged me for. There are much better run companies on the net.
Mark said on October 13, 2000 09:01:
This is awful i used boxman all the while and never had any problems and it was the only place I was garented to get roxette cds as england are terrible when it comes to roxette
martin_nl said on October 12, 2000 02:14:
This is terrible news. I’m a dedicated customer of boxman. They’ve saved me loads of money. Not only did I buy roxette stuff there, but also other artists. In Holland the newest cd’s were most of the time like 10 guilders cheaper. I really hope that someone is willing to spend those millions on investing in Boxman, for them to continue their great job!