 |
FTI Consulting is dealing with the Chapter 11 submitting of Boxed, the e-commerce wholesaler of bulk pantry objects to companies and households.
It blamed the “difficult enterprise surroundings” for the reorganization.
Boxed, which went public in a 2021 SPAC deal dealt with by ICR, posted a $94M loss on $131M revenues for the nine-month interval ended Sept. 30, 2022.
The corporate introduced in January that it was exploring strategic options.
Boxed plans to promote its Spresso software program enterprise and wind-down its retail enterprise.
CEO Chieh Huang thanked workers for his or her work through the previous decade and for making “a long-lasting impression on the e-commerce consumables trade.”
Boxed in 2018 rejected a $500M takeover provide from Kroger.
