The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

Online retailer Zulily is shutting down

by admin December 29, 2023
December 29, 2023
Online retailer Zulily is shutting down

Online retailer Zulily is shutting down.

Writing on the company’s homepage, an official said Zulily’s leadership had ‘made the difficult but necessary decision to conduct an orderly wind-down of the business to maximize value for the companies’ creditors.’

‘This decision was not easy nor was it entered into lightly,’ wrote Ryan Baker, vice president of Douglas Wilson Companies, which provides receivership and other business services, and is overseeing Zulily’s closure. ‘However, given the challenging business environment in which Zulily operated, and the corresponding financial instability, Zulily decided to take immediate and swift action.’

Customers with pending orders should expect them to be fulfilled, or receive a refund, by Jan. 22.

Launched in 2010 and based in Seattle, Zulily specialized in children’s and women’s apparel. It went public in 2013, and at one point was valued at approximately $9 billion, according to The Wall Street Journal.

The retailer was long considered a staple of Seattle’s tech scene, and in 2019 signed a multiyear sponsorship deal with the Major League Soccer team Seattle Sounders. More recently, Zulily became known for its aggressive advertising across social media platforms.

Zulily’s path to liquidation has led to hundreds of layoffs over the past year in multiple states. In May, the private equity firm Regent purchased the company from longtime owner Qurate Retail Group, which also owns the QVC and HSN brands popularly known for their television-based shopping channels.

Zulily’s closure comes on the heels of the shutdown of the e-commerce website Jane.com. Both failed to overcome competition from better-capitalized competitors such as the China-based Temu and Shein, as well as Amazon. Earlier this month, Zulily sued Amazon, accusing the retail and shipping logistics giant of anti-competitive practices. An Amazon spokesperson issued a statement denying the allegations.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Hubble telescope spies mysterious shadows on Saturn’s rings
next post
European Lithium

Related Posts

Nvidia CEO Huang sells $15 million worth of...

June 26, 2025

Four minors found working at Alabama poultry plant...

May 22, 2024

Gas prices are rising. Here’s how to stretch...

July 9, 2024

Microsoft plans September cybersecurity event to discuss changes...

August 26, 2024

Passengers sue Boeing and Alaska Airlines for $1...

March 6, 2024

CFPB sues America’s largest banks for ‘allowing fraud...

December 21, 2024

TD Bank pleads guilty in money laundering case,...

October 11, 2024

As inflation cools, Social Security could pay out...

July 13, 2024

Small businesses are still hungry to hire, but...

April 9, 2024

The collapse of a fintech firm with 10...

May 24, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,432)
    • Investing (3,523)
    • Politics (4,756)
    • World (4,659)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved