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Amazon merchant aggregator Thrasio files for bankruptcy

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Feb 28, 2024
Illustration of a frowny face with "11" as the eyes.

Illustration: Shoshana Gordon/Axios

Thrasio, a company that raised billions of dollars to buy up Amazon merchants, has filed for Chapter 11 bankruptcy protection.

Zoom in: The company said it will continue to operate its business without interruption throughout the bankruptcy process, as it seeks to shed around $495 million of debt.

  • "Thrasio is one of the largest third-party sellers on the Amazon marketplace, and with a strengthened balance sheet and new capital, we will be better equipped to support our brands," Thrasio CEO Greg Greeley, said in a statement.

Background: Thrasio has raised around $2 billion from firms like Advent International, Peak6 Investments, Oaktree Capital Management, Upper90, WTI, and River Park Ventures.

What's next: Thrasio said it has received commitments from certain lenders for up to $90 million in new financing.

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