News shuts down operations has announced that it will be shutting down operations as of today.

The company is taking its three properties —, and — offline, and close two physical stores in Vancouver and Toronto.

Employees were reportedly told of the shutdown this morning, and have been compensated through the end of the month. A limited number of employees are staying on as the company winds down operations. will work with secured lenders to determine the process to liquidate assets, and currently intends to assign some or all of the group companies into bankruptcy.

This story was original published by BetaKit