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boxed news pepe unchain Bnb Eth XRP aave Bitcoin Bonk

What happened to boxed?

After filing for Chapter 11 bankruptcy protection in April, online wholesale retailer Boxed has been acquired. U.S.-based regional distributor MSG Distributors, Inc. announced this morning its acquisition of Boxed.com and “other intellectual property portfolios and affiliates” in an all-cash transaction.

Is boxed going out of business?

In the news Boxed CEO and co-founder Chieh Huang started the company a decade ago. Now, it's filing for bankruptcy and shutting down its retail operations. Boxed filed for Chapter 11 bankruptcy on Sunday and plans to end retail operations. The grocery startup kept he majority of its cash in Silicon Valley Bank, which collapsed last month.

Did boxed go bankrupt?

Boxed Inc., an online bulk retailer that thrived during the pandemic, filed for bankruptcy on April 2. The New York-based firm listed as much as $102.6 million in assets and up to $190.4 million in liabilities in a Chapter 11 petition filed in the district of Delaware.

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