Letter sent to Enjewel investors

JCK was able to obtain a copy of the letter Enjewel sent to its affiliates alerting them that the company was closing (see related story below). It reads as follows:

As you all know, we have been trying to raise additional funding for Enjewel for some time. It is with deep regret that I must inform you that after many months of concentrated effort Enjewel has not been able to raise the capital it requires to go forward. With the assistance of Janney Montgomery Scott we have approached both financial and strategic investors in the hope of procuring financing, without success. With no additional source of funding available, the Board of Directors is left with no alternative but to cease operations of Enjewel. 

We are in the process of calling back all inventory from our warehouse and hope to return it to the consignor as quickly as possible. 

We are working on the tax filings for year 2000 (form k-1) and will know definitively by Friday our ability to deliver these to you on time. I will communicate with you on this topic again on Friday. There will also be a later communication about the calendar year 2001 filings.

For those companies that have a web site hosted by Enjewel, please see the information below relating to your site. 

As more information becomes available on these topics we will send it on to you.

I would personally like to thank each of you for your support of Enjewel, and its dedicated staff, as well as your belief in this model. I continue to believe that the concept we have created is viable and will at some point serve as the ecommerce model within our industry.

With warm personal regards, Shelley

 

Shelley Ginsberg

President & CEO

Enjewel

158 West 27th Street

New York, New York