eBay drop-shop goes into receivership

eBay drop-shop iSold It UK, whose activities included selling donated goods to raise money for charity, has gone into receivership and sold its remaining assets to rival chain auctioning4u.

Last year, iSold It said it would open 200 UK stores by 2010, but had opened only six by the time it went into receivership last month.

Auctioning4U, which currently has three stores, also provides a charity fundraising channel through its ‘Gift in Kind' corporate service, allowing companies to donate stock to be sold on eBay to raise charity funds. It also allows consumers to donate items to be auctioned for specific charities, or to specify that their goods should be donated to charity if they don't sell after two attempts on eBay.

Auctioning4U plans to open stores in every city in the UK within 18 months.

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