Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Business Online retailer Zulily is shutting down
Business

Online retailer Zulily is shutting down

by admin December 29, 2023
December 29, 2023

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
FacebookTwitterPinterestEmail
previous post
Apple Watch ban halted by appeals court
next post
Crypto Market Forecast: Top Trends That Will Affect Crypto in 2024

Related Posts

JPMorgan marks 1,000th branch opening since 2018 expansion plans

August 1, 2025

Apple crushes Wall Street expectations as iPhone sales soar

August 1, 2025

Ontario cancels internet deal with Musk’s Starlink as part of...

August 1, 2025

Trump ends de minimis exemption for global low-cost goods

July 31, 2025

Recall warns some Celsius energy drink cans accidentally contain alcohol

July 31, 2025

Union Pacific to buy Norfolk in $85 billion mega U.S....

July 30, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Kavanaugh cites 3 presidents in explaining Supreme Court’s ballooning emergency docket

      August 2, 2025
    • Trump repositions 2 nuclear submarines after ‘highly provocative’ Russian comments

      August 2, 2025
    • Trump endorses ‘MAGA warrior’ for RNC chairman after Whatley launches Senate campaign

      August 2, 2025
    • WATCH: Trump says he is hopeful Hillary Clinton will be investigated for election fraud

      August 2, 2025
    • Trump moves nuclear submarines weeks after praising sub’s power in Iran strikes

      August 2, 2025

    Categories

    • Business (1,473)
    • Investing (3,804)
    • Politics (5,058)
    • World (4,720)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.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 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing