PEAPOD CEO EXITS; GROUP WITHDRAWS FUNDING PLAN

CHICAGO -- Pioneering Internet grocery company Peapod.com here was facing an uncertain future last week after its chief executive officer resigned and investors withdrew a plan to invest $120 million in the company.Peapod said it had $3 million cash on hand and that it may discontinue operations or sell the firm if it cannot secure additional financing. Peapod typically spends about $5 million per

CHICAGO -- Pioneering Internet grocery company Peapod.com here was facing an uncertain future last week after its chief executive officer resigned and investors withdrew a plan to invest $120 million in the company.

Peapod said it had $3 million cash on hand and that it may discontinue operations or sell the firm if it cannot secure additional financing. Peapod typically spends about $5 million per quarter.

"Given their cash burn, it seems it's going to be very difficult to ge

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