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Incentium LLC, a provider of business and customer incentive programs located on Cherokee Boulevard, has announced on its website that it has ended business operations.

Once known as VIPGift, the business said "difficult business and economic conditions" had forced the firm to "permanently cease all business operations effective February 9, 2011."

The webside statement company assets "will be liquidated in an orderly manner for the benefit of its creditors."

The statement said correspondence about the matter should be sent to Incentium Liquidation, P.O. Box 4069, Chattanooga, TN 37405 or emailed to: liquidation@incentium.com."

In previous company releases, Incentium was described as being backed by Summit Partners, a growth equity investor, and Bridescale Partners, a private equity and venture capital fund.

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