Prominent among the investors most hardest hit is Omnia, an investment fund backed by members of Lebanon?s wealthy Hairi family. Omnia is understood to be the venture?s biggest backer with a $40m investment.

J.P Morgan, which led Boo.com?s fund raising in return for an equity stake, also brought in a number of investors. These included Sedco, thought to be backed by the Bin Mahfouth banking family in Saudi Arabia, which invested $10m.

The Financial Times? Lex Column concluded that the solution for e-tailers like Boo.com who run out of cash is ? to be snapped up by old economy retailers, so that youthful exuberance can be overlaid by retailing competency.?