Webvan (WBVN) , the struggling online grocer, was halted as the company announced it had ceased operating and fired its 2,000 workers and would seek bankruptcy protection. The one-time Internet high-flyer said it would seek Chapter 11 protection and canceled plans for a 1-for-25 reverse split.

Webvan said it expects the stock to be delisted by

Nasdaq

. The stock closed at 6 cents Friday, down from a 52-week high of $9.37.

TheStreet Recommends