• Reuters, Monday, April 3, 2023 5:11 PM

Ecommerce grocery platform Boxed Inc. filed for Chapter 11 bankruptcy protection and was pursuing sale of its software business. The company said it will wind down its retail operations in the coming weeks. "The plan to sell Spresso, its Software-as-a-Service business, chimes with the company's announcement last month to explore options to raise capital," per Reuters. "The bankruptcy filing comes weeks after Boxed said it held a majority of its cash deposits and other liquid assets in accounts at the collapsed Silicon Valley Bank."

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