Joele Frank is working for Thrasio Holdings as the top Amazon aggregator declares Chapter 11 reorganization as the e-commerce frenzy slows in the aftermath of the pandemic.

The restructuring enables Thrasio to shave $495M in debt off its balance sheet. It has arranged $90M in fresh financing.

“Thrasio is one of the largest third-party sellers on the Amazon marketplace, and with a strengthened balance sheet and new capital, we will be better equipped to support our brands, scale our infrastructure and enable future opportunities,” CEO Greg Greeley said in a statement.

Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag, Jed Repko and Kara Sperry represent Thrasio.