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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.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
DGA Group handles takeover target Intertek as the London-based quality assurance testing company as it launches a strategic review of its operations.
