Alex and Ani is moving its inventory into third-party warehouses and utilizing a hosted last-mule delivery platform.
The jewelry retailer, best known for its signature expandable charm bangle bracelets, is partnering with cloud-based supply chain services provider Stord. After handling distribution, fulfillment, and manufacturing in-house since its inception in 2004, Alex and Ani, recognizing a need to outsource its warehousing and fulfillment, decided to deploy hosted technology from Stord.
Alex and Ani filed for Chapter 11 bankruptcyprotection in June 2021, citing inventory management troubles and a big decline in store traffic. Following restructuring, the company closed on a $17.5 million loan provided by Second Avenue Capital Partner in 2022 to support its working capital needs and business operations. The company also entered into a restructuring support agreement with its lenders and equity sponsors that was implemented with the filing.Chain Store Age