Online retailer Zulily is closing its doors.
Writing on the company’s homepage, an official said Zulily executives had “made the difficult but necessary decision to proceed with an orderly liquidation of the company in order to maximize value for the company’s creditors. business”.
“This decision was not easy and was not taken lightly,” wrote Ryan Baker, vice president of Douglas Wilson Companies, which provides receivership and other services to businesses and oversees the closure of Zulily. “However, given the difficult business environment in which Zulily was operating and the corresponding financial instability, Zulily decided to take immediate and rapid action.”
Customers with pending orders should expect them to be fulfilled or receive a refund by January 22.
Launched in 2010 and based in Seattle, Zulily specializes in children’s and women’s clothing. It went public in 2013 and at one point was valued at around $9 billion, according to the Wall Street Journal.
The retailer has long been considered a staple of Seattle’s tech scene and in 2019 signed a multi-year sponsorship deal with Major League Soccer team the Seattle Sounders. More recently, Zulily has become known for its aggressive advertising on social media platforms.
Zulily’s path to liquidation has led to hundreds of layoffs over the past year in several states. In May, private equity firm Regent bought the company from its longtime owner, Qurate Retail Group, which also owns the QVC and HSN brands, known for their television shopping channels.
Zulily’s closure follows the closure of e-commerce site Jane.com. Both have failed to beat competition from better-capitalized rivals such as Chinese companies 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 released a statement denying the allegations.
Gn En bus