Published May 5, 2008 03:01PM
Nau, the sustainable outdoor and casual clothing retailer, announced today that they will be closing down. This news that they will be “winding down business operations” comes a scant year after they captured the spotlight with their slick design and uncompromising environmental standards. In a letter on their website titled “Goodye For Nau,” the team elaborated thusly:
“In the currently high risk-averse capital market, we simply could not raise the funds to continue to move forward. We believe this is not so much a reflection of the viability of our business, but the result of an unfortunate confluence of events. Just as we could not have predicted the sudden groundswell of environmental consciousness that blossomed at the time we launched our business, we did not foresee the current crisis in capital markets. At this time, investors are loath to invest in anything; especially, it seems, a company like Nau that has the audacity to challenge conventional paradigms of what a business should be.
The principle players of Nau all claim to plan to continue the green fight in a different incarnation:
“Nau was merely one attempt to express a larger idea that was around before us and will be around long after. It remains as urgent as ever for businesses to take the lead in creating a sustainable future for humans and the planet.”
Bummer. There is one bright lining, however: All Nau clothing is now 50 percent off. Get it while you still can…