Meal-kit delivery company Blue Apron Holdings Inc has said that it is considering options including going private and announced the closure of its Arlington facility in Texas.
The company, which went public in 2017, is also considering alternatives such as a sale of the company or some of its assets.
It expects a net loss in the first quarter of between $22 million (€20.39 million) and $26 million (€24.10 million), which includes charges to close its Texas facility, Blue Apron said on a conference call on Wednesday.
Overwhelmed by rising competition and falling sales, Blue Apron's stock has been declining since its Wall Street debut. The stock fell almost 33% so far this year.
Blue Apron, whose fourth-quarter revenue fell by 33% to $94.3 million (€87.41 million), said it will consolidate its New Jersey and California facilities.
The company's customer base also fell by 9% to 351,000 at the end of the quarter ended 31 December.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
