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Is Groupon Circling the Drain?

Coupon fatigue, anyone?

Coupon fatigue, anyone?

Usually, when a company plans an IPO, they do everything they can to drum up some good press. But the news preceding Groupon's planned stock offering continues to make the company look pretty bad.

Earlier we heard about some weird accounting terms they were using to hide major losses, and now all this: They've laid off some 400 people nationwide, they're replacing their sales chief, and it sounds as if they're struggling to stay afloat, owing more money to merchants than they have in the bank. Doesn't exactly sound like they're setting up to have a repeat of Dunkin' Donuts' recent stock success.

Groupon Hits Roadblocks in China and at Home [Daily Intel]
Is Groupon Getting Desperate? [Gawker]

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