A statement on the company's site, www.wippit .com, says, "Wippit has closed. After eight years of pushing the digital boundaries, Wippit can no longer compete in the current market climate.

"Thank you to everyone that has supported us over the years and apologies to those that will miss us."

Website Distorted Loop (http://distorted-loop.com) quotes a spokesperson for the site as saying, "Wippit finally succumbed to tough market conditions and the changing landscape in the retail market."