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.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »