The news comes just six weeks after US parent Excite@Home announced it was selling its 58% stake in the UK site when it filed for Chapter 11 bankruptcy protection at the beginning of October. BT owns the remaining 42% of the UK site.
The company blamed the potential closure of the site on the downturn in online advertising. Managing director Rebecca Miskin said, "It is unfortunate that the global downturn in media advertising has negatively affected Excite UK's financial performance.
"Based on this, and the short time period in which to identify a buyer, I have to acknowledge the possibility of the closure of Excite UK."
The company notified staff last week that if a buyer does not emerge in 30 days the company will fold.
When Excite@Home filed for bankruptcy, Excite UK said it was close to profitability and had enough cash reserves to last at least another year.
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