On-line retailer Zulily is shutting down

On-line retailer Zulily is shutting down.

Writing on the corporate’s homepage, an official stated Zulily’s management had “made the difficult but necessary decision to conduct an orderly wind-down of the business to maximize value for the companies’ creditors.”

“This decision was not easy nor was it entered into lightly,” wrote Ryan Baker, vp of Douglas Wilson Firms, which is overseeing Zulily’s closure. “However, given the challenging business environment in which Zulily operated, and the corresponding financial instability, Zulily decided to take immediate and swift action.”

Clients with pending orders ought to count on them to be fulfilled, or obtain a refund, by Jan. 22.

Launched in 2010 and based mostly in Seattle, Zulily specialised in kids’s and ladies’s attire. It went public in 2013, and at one level was valued at roughly $9 billion, in accordance with The Wall Road Journal.

The retailer was lengthy thought-about a staple of Seattle’s tech scene, and in 2019 signed a multiyear sponsorship cope with the Main League Soccer staff Seattle Sounders. Extra not too long ago, Zulily turned identified for its aggressive promoting throughout social media platforms.

The corporate’s path to liquidation has led to lots of of layoffs over the previous 12 months in a number of states. In Might, a non-public fairness agency bought it from longtime proprietor Qurate Retail Group, which additionally owns the QVC and HSN manufacturers popularly identified for his or her television-based purchasing channels.

Zulily’s closure comes on the heels of the shutdown of the e-commerce website Jane.com. Each failed to beat competitors from better-capitalized rivals such because the China-based Temu and Shein, in addition to Amazon. Earlier this month, Zulily sued Amazon, accusing the retail and transport logistics big of anti-competitive practices. An Amazon spokesperson issued an announcement denying the allegations.