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The Kelsey Report® Advisory

ValueStar Demise a Blow to Consumer Ratings
Charles Laughlin, Neal Polachek , 10/18/2001

Issue: Will There Ever Be a Business Case for Ratings?

News: ValueStar Corp., which had recently vowed to provide quality ratings for all of the U.S.'s estimated six million service-based businesses, just shut its doors. The San Francisco company cited the difficulty of raising capital in the post-September 11 environment as a key cause of its demise. A publicly traded company, ValueStar posted losses of $17.2 million on revenues of $1.1 million for the year that ended in June. Last year, the company lost $14.4 million on sales of $2.1 million.

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