As a result, the company have undergone an emergency restructuring, including cutting back on staff and consolidating efforts around their commercial areas – the Arcade and Gallery.
The setback comes just as chief executive Alan Marcuson was due to announce the upgrading of the site, with an enhanced Arcade, search engine and behind-the-scenes inventory management system known as My Cloudband. Further enhancements are planned this year along with the launch of a major new product – the Cloudband Directory – which will list trade services, such as restorers, of interest to Cloudband’s niche market.
Mr Marcuson explained: “Although it was hard and deeply unpleasant, we had to act fast as we were determined not to lose everything to current financial conditions.
“Cloudband’s members rely on us for a significant portion of their trade and we have a duty to keep the Arcade and Gallery going for them through these tough times. Furthermore, we are convinced that in the coming months Cloudband’s ability to connect a globally fragmented market is going to become increasingly valuable as dealers cut back on fairs and international travel.”
Cloudband finances hit by NY attacks
Cloudband.com, the specialist Website firm for rugs and textiles, have had their financing badly hit as a direct result of terrorist attacks in New York on September 11.
