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PurchaseSoft to Close Local Office as Company Halts Operations

WESTBOROUGH, MA-More space comes on the market here as PurchaseSoft, which develops software to enhance a company's purchasing process, plans to close its doors. The company had recently moved its headquarters here from Minneapolis.

By Naomi Grossman | Updated on December 24, 2001

WESTBOROUGH, MA-This area can look forward to even more space coming on the market as the recession claims yet another victim. PurchaseSoft Inc., a locally based software company, is closing down its operations.

According to Philip D. Wolf, the company’s chief financial officer, “In our recent 10K we indicated that we needed money for operations but no one stepped up. This is no surprise.” The company recently moved its headquarters from Minneapolis to here where it is leasing space. Wolf was still unsure what PurchaseSoft will do with its space here. “We have to explore how to get out of that,” he tells GlobeSt.com.

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