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Boxman pulls the plug, Per and Marie both stand to lose money

Written by roxeteer on October 11, 2000 to .

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.

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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!

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.

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


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