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National e-Procurement folds

Joins other dotgonners in the sky

National eProcurement - a wholly owned subsidiary of the National Australia Bank Group (NAB) - is to close at the end of February.

The business-to-business outfit has been in operation for the last two years enabling small and medium-sized companies to trade online.

However, following a business review it's been decided to discontinue the global operation on February 28. Three jobs in the UK are at risk, although it's hoped those involved can be redeployed elsewhere within the group.

A spokesman for NAB blamed a lack of customers for its decision to shelve the operation.

Last year research from International Data Corp revealed that despite the hype many companies took a decidedly lukewarm view of emarketplaces and eprocurement. ®

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