Online retailer Boxed’s board of directors is considering “strategic alternatives” that include a possible sale of the company, according to a Thursday morning press release.
The retailer, which is trying to shore up its financial reserves and boost its sagging stock price to meet New York Stock Exchange (NYSE) listing requirements, also said it is “actively exploring” ways to bring in capital and expects to announce new funding within 45 days.
Boxed said it does not plan to provide further information about its efforts to identify options for its future and bring in additional capital “unless and until” the company’s board approves a transaction. The company’s management and financial and legal advisors support the board’s decision to undertake a strategic review, according to the announcement.
Source: Grocery Dive
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 