Online Retailer Zulily To Shut Down Amid Ongoing Business Complications

Online retailer Zulily has announced its shutdown due to ongoing business complications.

An official statement posted on the company’s homepage revealed the decision was made to “conduct an orderly wind-down of the business to maximize value for the companies' creditors.”

The statement, penned by Ryan Baker, Vice President of Douglas Wilson Companies overseeing the closure, acknowledged the “challenging business environment” and financial instability as major factors leading to the shutdown, according to a report from NBC News.

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Customers with outstanding orders can expect their orders to be fulfilled or a refund by Jan. 22.

Launched in 2010, Seattle-based Zulily specialized in children’s and women’s apparel. Zulily went public in 2013, and at one point, it was valued at approximately $9 billion. The company was also known for its aggressive advertising across social media platforms.

The closure follows a series of layoffs and the company’s recent purchase by the private equity firm Regent from the Qurate Retail Group. Zulily’s closure comes in the wake of the shutdown of the e-commerce website Jane.com, both failing to overcome competition from better-capitalized competitors.

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