Wholesale retailer Boxed Inc files for bankruptcy

US online and mobile wholesale retailer Boxed Inc. has filed for bankruptcy. In a Chapter 11 petition, the company listed $102.6 million in assets and up to $190.4 million in liabilities. The company, which thrived during the Covid-19 lockdowns, said that it will pursue a sale of its Spresso Software-as-a-Service business to first-lien secured lenders and wind down its retail operations in the coming weeks. The company said that it would fund its near-term operations and cover administrative expenses through access to its cash collateral as it winds down. Boxed, founded in 2013, was one of many companies which said…