Grocery courier Boxed Inc. said Tuesday it may file for bankruptcy as it explores a possible sale of the business through a merger with a special purpose acquisition company, or SPAC, less than two years after going public. continues.
The e-commerce company, which specializes in household staples and pantry items, said in a securities filing that it is actively seeking offers for the sale of all or most of its assets to improve its liquidity position. Boxed went public in 2021 by merging with a SPAC, at a time when the popularity of such blank-check companies was exploding.