Capital markets research and consulting firm Tabb Group is to close down, citing the impact of Covid-19 on its conference business.
In a memo to research clients, the 17-year old analyst group says the wind down of the business is effective immediately.
"Dramatic and profound changes in the research business have challenged the firm for the past several years," states the firm. "Now exacerbated by the Coronavirus, this public health condition has eliminated Tabb’s ability to produce industry events and conferences—a major source of its revenue. These forces have made it impossible for TABB Group to deliver its high-quality research and services to its valued clients, while compensating its staff appropriately.
"The company has amassed tremendous data, analytics and a vibrant professional community on TabbFORUM, and will now look to sell its assets."