The company, an early leader in the Amazon aggregator space, filed for bankruptcy protection in February.Greg Greeley, Thrasio's CEO, informed staff on Tuesday that he plans to resign, according to an internal memo viewed by CNBC. Finance Chief Josh Burke is also leaving, along with the company's technology chief, head of human relations, chief commercial officer and supply chain lead.
Thrasio became an early leader in what became a rapidly booming market to acquire successful brands on Amazon and combine them under one roof, with the goal of using their data and operational expertise to turbocharge sales. Thrasio raised $3.4 billion in equity and debt from major firms like. The company snapped up more than 200 brands, from a top-selling pet deodorizer spray, to golf putting mats and cocktail shakers.
In a court filing, Thrasio said it had between $1 billion and $10 billion in assets, and between $500 million and $1 billion in liabilities. It owes more than $5 million to U.S. Customs and Border Protection and roughly $2.9 million to GXO Logistics, among other liabilities. Greeley said the company's operations were"cash flow positive in Q1."
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