Zulily Says It Will Go Into Liquidation

USA – In a surprising move, U.S. online retailer Zulily is shutting down, leaving customers shocked and hundreds of workers laid off after failed attempts to rescue the business.

The Seattle-based company, struggling in the competitive market, aims to fulfill pending orders within the next two weeks.

Rather than bankruptcy, Zulily is opting for an assignment for the benefit of creditors to wind down, transferring assets to pay off creditors through liquidation.