The health and beauty product retailer was at one point the largest seller on Amazon’s third-party marketplace.
Packable, the parent company of top-ranking Amazon seller Pharmapacks, is laying off employees and ceasing operations, according to documents viewed by CNBC.
The health and beauty product retailer was at one point the largest seller on Amazon's third-party marketplace. Packable is liquidating after a failed effort to go public through a special purpose acquisition company. About a year ago, online retailer Packable was preparing to go public through a special purpose acquisition company. With the SPAC market having evaporated and the economy now sputtering, Packable is laying off staff and preparing to liquidate, according to internal documents reviewed by CNBC.
Packable is the parent company of Pharmapacks, an online seller of health, personal care and beauty products. Pharmapacks was founded in 2010 as a single brick-and-mortar pharmacy in the Bronx, New York, before it turned to the internet and established a big home onLast September, Pharmapacks was the No. 1 Amazon seller in the U.S.
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