Boo brand name still not sold

The search to secure a buyer for failed online retailer Boo.com's high-profile but slightly tarnished brand name is taking much longer than expected, according to its liquidator KPMG.

A spokesman at KPMG said it had hoped to make an announcement about a buyer late yesterday or early today. However, late Wednesday he said negotiations are still in progress.

"We have nothing to announce yet," he said. "The general feeling is it's going to be OK, but everything is taking a bit longer than expected. It definitely won't be today and may not be forthcoming for another few days."

UK internet entrepreneur Dan Wagner's company Bright Station yesterday confirmed that it had bought Boo's technology assets. The company is believed to be paying around £250,000 for Boo's back-office technology, including the software that powered its website.

Boo, which employed 300 staff in various sites around the world, ran up debts of around $25m in less than a year. The company went into liquidation earlier this month after failing to secure an additional $30m in funding needed to continue trading.