Retail can be a very hard business.
Packable, last year the #1 seller on Amazon Marketplace in the U.S., is liquidating. A year ago, they were planning a SPAC deal at a $1.5 billion valuation. I hope to someday read the inside story of how this business collapsed. The memo to employees included this line: “Given the company has no viable financing alternatives, we are now forced to cease operations, liquidate any remaining collateral, and shut down the business, including the facility you report to.” | learn more