Eco-sportswear "concept" Nau issues a going-out-of-business manifesto:
In the current highly risk-averse capital market, we simply could not raise the necessary funds to continue to move forward. We believe this is not so much a reflection of the viability of our business, but the result of an unfortunate confluence of events. Just as we could not have predicted the sudden groundswell of environmental consciousness that blossomed at the time we launched our business, we did not foresee the current crisis in the capital markets. At this time, investors are loath to invest in anything; especially, it appears, a company like Nau that has the audacity to challenge conventional paradigms of what a business could be.
And much, much more in this vein.
I never cared for Nau's clothing--too somber and space-agey--but I do regret the passing of a company that knew the correct spelling of loath (adjective).
Everything on the site is half-price.
(According to a Cool Hunting report from upbeat pre-launch days--about 20 months ago--"Nau" means "welcome" in Maori.)
Via Wardrobe 911.
Dang it, Nancy, I had to go fix SIX instances of misspelled "loath" in my blog. :-)
Posted by: mike | May 20, 2008 at 10:10 AM