Zulily CEO Terry Boyle left the company in October as financial troubles mounted. ![]() The company was acquired by QVC parent company Qurate in 2015 and was later taken private.Zulily struggled to compete with Amazon and faced financial instability.An Assignment for the Benefit of Creditors (ABC) will be used as an alternative to bankruptcy for winding down the business.The company is working to cancel and refund orders that cannot be filled.The Seattle-based company tried to fulfill pending orders and expects to complete them within the next two weeks.US online retailer Zulily has announced its closure, catching customers by surprise.ĭriving the news: Efforts to salvage the business have failed, leading to the decision to go into liquidation, Zulily announced in a statement on its website.
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