Blue Apron shares rebound on job cuts and a plan to juice its stock price | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

Blue Apron, the home meal kit delivery service, paid off its debts and plans to streamline its business with job cuts, restructuring and a sale of assets to fellow meal company FreshRealm

Blue Apron\n \n , the home meal kit delivery service, paid off its debts and plans to streamline its business with job cuts, restructuring and a sale of assets to fellow meal company FreshRealm. The crowded meal-kit business has suffered post-pandemic, so Wall Street reacted enthusiastically to the retool.

But with the sale of its “operational infrastructure” to FreshRealm, BlueApron received $25 million in cash upfront and is eligible to receive up to $25 million more if the company reaches certain milestones, a release said Friday. “Blue Apron is now an asset-light company, focused on the growth of its direct-to-consumer business,” the company said, adding it “expects to accelerate the expansion of its product offerings, including the addition of new convenient options.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

First on CNN: Raj Shah out at Fox in wake of historic Dominion settlement | CNN BusinessRaj Shah, the Fox Corp. brand protection executive who pushed Fox News in an even more pro-Trump direction after the 2020 election, has left the company.
Source: CNN - 🏆 4. / 95 Read more »