Jun 03, · FTD Cos., the flower delivery mainstay that operates ProFlowers and karacto.xyz, filed for bankruptcy protection in Delaware after a lackluster Valentine’s Day foiled efforts to . On June 3, , GUE Liquidation Companies, Inc. fka FTD Companies Inc. (the “Company”) and substantially all of its domestic subsidiaries filed voluntary petitions commencing cases under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware to facilitate the completion of strategic initiatives resulting from the Company’s previously announced strategic review. Jun 03, · Flower and gift delivery service FTD filed for bankruptcy protection Monday with an agreement to sell some businesses while paying down debt and .
Share on reddit. Share on email. FTD also has signed letters of intent for the sale of two of its other e-Commerce businesses:. Related Stories. News Briefs.
FTD and other delivery companies are also facing increased competition from on-demand startups like The Bouqs Co. Those startups tend to appeal more to younger shoppers and are more transparent about fees, Mr. To defeat the logistical challenge of trying to deliver a perishable commodity across long distances, they traded orders among themselves in a network that grew into a company.
Selling perishable products online is challenging, and in the flower business, a southern storm can spell disaster, he said. Bankruptcy Court in Wilmington, Del. Davidson Companies who has been following FTD. Kurnos said. Does it grow and are there growth opportunities?
We think yes, albeit modestly. Kurnos said that unlike FTD, Flowers benefited from its investments in improving technology, distribution and every day gifting. Weiser said. By last year, FTD was looking for buyers for its businesses, a process that accelerated as debt maturities began to loom.
Signed June 2, the agreement with Nexus is contingent on the purchaser, a private-equity firm, obtaining financing, according to court papers.