Top Amazon aggregator Thrasio files for bankruptcy

Thrasio, a leading Amazon aggregator, has filed for Chapter 11 bankruptcy protection. The company has agreed with lenders to reduce its debt by about $495 million. Thrasio has also secured commitments from some creditors to provide up to $90 million in fresh capital, which will be used for ongoing operations and to continue running brands in its portfolio. The company was once a pioneer in the Amazon aggregator business, raising billions of dollars from investors. However, the market began to show signs of strain last year as e-commerce growth slowed and economic uncertainty increased.

Read more at: https://www.cnbc.com