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Tuesday, January 26, 2021

Blue Apron on the block?

Blue Apron shares sank Wednesday after the meal kit maker said it would shutter a facility and is considering a range of strategic alternatives, including a possible sale of its business. The struggling company has faced tough competition from online rivals and grocers alike. Blue Apron said late Tuesday that its number of customers fell 37% in the last three months of 2019. Revenue fell 33% to $94.3 million and it reported a loss of $21.9 million in the quarter. The New York-based company said it is closing one facility in Texas. It is also considering merging with another company or selling parts of its business. Shares of Blue Apron Holdings Inc. fell 18% Wednesday.

AP

For more on local impact as Blue Apron closes Arlington location:

www.fortworthbusiness.com/news/blue-apron-may-put-company-up-for-sale-to-close/article_66691ca4-5367-11ea-ad49-f37ea4417d25.html

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