Grocery courier Boxed Inc. said Tuesday it might file for bankruptcy as it continues to explore a possible sale of the business less than two years after going public through a merger with a special-purpose acquisition company, or SPAC.
The e-commerce company specializing in household staples and pantry items said in a securities filing that it is actively soliciting proposals for the sale of all or most of its assets to improve its liquidity position. Boxed went public in 2021 by merging with a SPAC at a time when the popularity of such blank-check companies was exploding.
Source: https://www.wsj.com/articles/household-retailer-boxed-is-negotiating-with-lenders-for-bankruptcy-sale-6cee02e?siteid=yhoof2&yptr=yahoo