D2C retailer Boxed is teetering on the brink of bankruptcy.
A recent regulatory filing shows that the firm may be unable to afford the millions of dollars that it will owe creditors in the coming months.
Boxed specializes in selling pantry items in bulk and operates a fresh grocery delivery business.
- The company entered a credit agreement in January that required it to sell at least half its equity by the beginning of March.
- The creditors were unsatisfied with the company's progress by March 6.
- Its failure to meet the stipulated requirements has brought Boxed near the point of bankruptcy.
- The company went public in 2021 but now risks being delisted from the New York Stock Exchange due to its stock prices failing to meet the minimum threshold.
