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?
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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