bankruptcy E-commerce Giant Thrasio Files for Chapter 11 Bankruptcy as Reign Comes to an End
It said it has also secured an emergency $90 million in emergency financing from unnamed existing lenders.
The $90 million in new capital, it said, “is expected to provide sufficient liquidity to support the Company throughout this process and beyond.
The news should not come as a surprise: there have been murmurs of the company’s impending bankruptcy since last year.
At the time, the company had just raised $1 billion at a valuation, it said, of “up to” $10 billion.
(It noted that even in 2022 it was “just” $4.5 billion, not the $10 billion that the company had said it was.)
