A massive online retailer in Washington now permanently closes after announcing it was laying off employees and closing its Seattle headquarters.
Zulily officially ended its operations last week.
Prior to the company ending its operations, visitors to their online website were automatically redirected to a blank webpage with only the message, “We are down for maintenance.”
The message prompted online shoppers to conclude the inevitable for the online retailer.
The message followed a period of time where “final sale” and “all items must go” language appeared on Zulily’s homepage.
RetailDive reports that Zulily and Regent, the private equity firm that bought the retailer in May, did not immediately respond to emails seeking comment about the website or the company’s operational status at the time.
The online retailer headquartered in Seattle, Washington, was founded in 2010, and by 2014, it was doing over one billion dollars in sales; only Amazon and Old Navy had hit the billion-dollar revenue mark in a shorter time.
Zulily at one point was even seen as a challenger to Amazon.
The company hit a valuation of $7 billion and sponsored the Seattle Sounders from 2019 to 2022.
However, the company struggled for quite some time resulting in layoffs just a few months ago and seeing its CEO resign.
In December, Zulily announced it was laying off employees and closing its Seattle headquarters.
Employees in Ohio and Nevada were also laid off.
The company made the following announcement:
“As previously announced, Zulily, LLC and its parent Zulily Group LLC (collectively, “Zulily”) made the difficult but necessary decision to conduct an orderly wind-down of the business to maximize value for the companies’ creditors.
This decision was not easy nor was it entered into lightly. However, given the challenging business environment in which Zulily operated, and the corresponding financial instability, Zulily decided to take immediate and swift action.”
Also Read: A US Company Now Declares An Unexpected Bankruptcy
Other Economy News Today
A popular US chain now makes unexpected layoffs in California ahead of the minimum wage increase soon to take place.
In October, California Governor Gavin Newsom passed a new law to increase wages for fast-food workers across the state.
The new AB 1228 legislation, or the Fast Food Franchisor Responsibility Act, will come into effect on April 1, 2024, and guarantees fast-food employees in California a minimum wage of $20 per hour- the highest in the United States.
Pizza Hut franchises in California are expected to lay off approximately 1,200 drivers amidst the minimum wage increase.
The company will be relying on third party delivery companies such as DoorDash.
Southern California Pizza Co, a franchisee covering Orange County and the Inland Empire, has stated it will cut 841 salaried delivery drivers, while PacPizza, which operates Pizza Hut establishments across California, will eliminate jobs in February.
“PacPizza, LLC, operating as Pizza Hut, has made a business decision to eliminate first-party delivery services and, as a result, the elimination of all delivery driver positions.”
The CEO of popular restaurant chain Jack in the Box, Darrin Harris, expressed his views on how this may impact the industry this week.
The business owns Jack in the Box, which has about 43% of its 2,200 locations in California, and Del Taco, which operates about 63% of its 591 locations in the state.
Harris expects to raise prices 6% to 8% companywide, mainly because of the California wage hikes.
BJ’s, a restaurant chain headquartered in California, has also stated that higher menu prices will reflect the wage increase. BJ’s has 59 locations across California.
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Also Read: Massive Layoffs in California Now Underway Prior to Holidays
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