Shares in Internet retailer Letsbuyit.com fell 58 per cent to close at 52 cents yesterday as it resumed trading after a suspension on Friday when the company was granted protection from its creditors.

The UK-based website, which helps buyers cut prices by bringing them together to place bulk orders for products, said on Friday it was talking to potential investors in a bid to arrange new financing but did not expect an early deal.

An Amsterdam court granted an application by Dutch holding company Letsbuyit.com for a moratorium on payments and appointed trustees.