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November 17, 2000 9:20 AM, EST

With not even two years in business, Paxis LLC is suspending operations on its nationwide package delivery services, the company announced Nov. 13.

Based in Jacksonville, Fla., the company employs about 175 people. Formed in December 1998, Paxis tried to offer package consolidation and distribution services for ground-based business-to-residential delivery.

The company’s business model was based on helping package shippers, whether catalog companies or dot.com enterprises, take advantage of the U.S. Postal Service’s rate discounts, according to a company statement.

The company stopped accepting packages at its eight facilities at 11:59 p.m. EST on Nov. 12.

Judith F. Marks, the company’s president, confirmed that privately held Paxis is currently exploring opportunities with several potential buyers for its network and assets, including package handling and sorting equipment.