Seattle-based online retailer Zulily, now under new ownership for just seven months, has announced the cessation of its business operations. Ryan Baker, Vice President of Douglas Wilson Companies, expressed the difficulty of the decision, citing the challenging business environment and financial instability.
Seattle-based online retailer Zulily, now under new ownership for just seven months, has announced the cessation of its business operations. Ryan Baker, Vice President of Douglas Wilson Companies, expressed the difficulty of the decision, citing the challenging business environment and financial instability. The confirmation came after Zulily's website abruptly went offline, redirecting visitors to a maintenance page. The company did not disclose further details about its financial situation. Zulily had recently filed a lawsuit against Amazon, accusing the retail giant of price fixing and abusing its monopoly power. The parent company, Regent, acquired Zulily in May, but the online retailer faced financial challenges, reporting a 17% revenue decline in the first quarter.
In a recent development, Seattle-based online retailer Zulily, under new ownership for only seven months, has declared the conclusion of its business operations. Ryan Baker, Vice President of Douglas Wilson Companies, announced the decision, citing the challenging business environment and financial instability. The acknowledgment followed the sudden offline status of Zulily's website, redirecting visitors to a maintenance page. Further details about the company's financial situation remain undisclosed. Zulily had recently taken legal action against Amazon, alleging price fixing and the abuse of monopoly power. Acquired by Regent in May, Zulily faced financial challenges, reporting a 17% revenue decline in the first quarter.
Amidst its seventh month under new ownership, Seattle-based online retailer Zulily is ceasing its business operations. Ryan Baker, Vice President of Douglas Wilson Companies, revealed the decision, attributing it to the challenging business environment and financial instability. The announcement came after Zulily's website unexpectedly went offline, displaying a maintenance message. No additional details about the company's financial state were provided. Zulily had filed a lawsuit against Amazon, accusing the tech giant of price fixing and monopoly abuse. Acquired by Regent in May, Zulily encountered financial struggles, recording a 17% revenue decline in Q1.
In a recent development, Seattle-based online retailer Zulily, now under new ownership for only seven months, has declared the conclusion of its business operations. Ryan Baker, Vice President of Douglas Wilson Companies, announced the decision, citing the challenging business environment and financial instability. The acknowledgment followed the sudden offline status of Zulily's website, redirecting visitors to a maintenance page. Further details about the company's financial situation remain undisclosed. Zulily had recently taken legal action against Amazon, alleging price fixing and the abuse of monopoly power. Acquired by Regent in May, Zulily faced financial challenges, reporting a 17% revenue decline in the first quarter.
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