Thrasio Files for Bankruptcy Amid E-commerce Slowdown

The Amazon aggregator seeks to reduce its debt by $495 million and has secured $90 million in new financing to continue operations.

Thrasio, a leading Amazon aggregator, has filed for Chapter 11 bankruptcy protection in New Jersey, aiming to cut its debt by about $495 million.
The company has secured $90 million in new financing from existing lenders to support ongoing operations and maintain its portfolio brands.
Thrasio's financial struggles stem from a slowdown in e-commerce growth, economic uncertainty, and the end of the pandemic-driven online shopping surge.
Despite the bankruptcy filing, Thrasio plans to continue its business operations normally, with a focus on supporting its brands and scaling its infrastructure.
The company's downfall is seen as a significant example of the challenges facing growth-stage tech companies in the current economic climate.