NEW YORK -- Dennis Interactive, the New York-based i-shop backed by U.K. publisher Felix Dennis, is winding down its operations after five years. According to letter on its Web site, the company is no longer accepting any new contracts.
Fifteen people will remain at the interactive agency for the next several months to complete current projects and all work orders signed before last Friday, according to a a Dennis Publishing representative. Five staffers have been let go.
"It was a part of Dennis [Publishing] that was dwindling down just like everyone else in the interactive sector," the representative said.
David Cherry, general manager of DI, declined comment, saying that his thoughts were summed up in the letter.
In April 2001, DI received a commitment for an additional $2 million in financing from its owner. At the time, they reduced its staff of 48 by 20 and closed its six-month-old U.K. office. Some of DI's former clients include DietSmart.com, American Express and Margeotes|Fertitta & Partners.