CyberShop to Revamp

CyberShop.com Inc. said it plans to leave the online retailing business and convert the company into an incubator for Internet start-ups, joining the ranks of several Web retailers that have fallen victim to the ongoing e-tailing industry shakeout.

The Jersey City, N.J.-based company will also change its name to Grove Street Ventures Inc. and plans to sell the CyberShop.com and Electronics.net online retailing sites to provide capital for its new operations. Shares of CyberShop.com rose 75 cents to close at $5.94 on Nasdaq.