VEREDEX TERMINATES SHIPPING PORTAL
Veredex Logistics Inc., a provider of software and Internet technology for transportation management, said Wednesday it is closing Hotship.com, its same-day shipping portal.
Shutting down Hotship “was the result of the company’s inability to generate sufficient economies of scale, combined with the difficulty of raising operating capital in the current economic climate,” said Scott Irvine, senior vice president of business development at Veredex, which is based in Toronto.