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FTI Consulting is handling the Chapter 11 filing of Boxed, the e-commerce wholesaler of bulk pantry items to businesses and households.
It blamed the “challenging business environment” for the reorganization.
Boxed, which went public in a 2021 SPAC deal handled by ICR, posted a $94M loss on $131M revenues for the nine-month period ended Sept. 30, 2022.
The company announced in January that it was exploring strategic alternatives.
Boxed plans to sell its Spresso software business and wind-down its retail business.
CEO Chieh Huang thanked employees for their work during the past decade and for making “a lasting impact on the e-commerce consumables industry.”
Boxed in 2018 rejected a $500M takeover offer from Kroger.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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