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Thrasio Holdings, which acquires third-party sellers on Amazon, is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday.
Thrasio has been advised by New York-based consulting firm AlixPartners in recent years and their retail turnaround professional Holly Etlin is currently working with the company, the report said, citing people familiar with the matter.
The aggregator did not immediately respond to a Reuters’ request for comment.
In 2021, Thrasio said it had raised $1 billion in a funding round led by private equity firm Silver Lake, taking its total funding to $3.4 billion.
The company has been working with law firm Kirkland & Ellis to explore restructuring options, the Journal had reported in September.
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