Thrasio is a company that does big business on Amazon. On July 14, 2021, they had a stand at the Prosper Show in Las Vegas. This show is popular with people who sell goods on Amazon.
But, Thrasio is now in trouble. They went to court in New Jersey on a Wednesday. They are trying to get rid of a lot of debt, almost $495 million. The company made a deal with the people they owe money to. Some of those people are ready to give Thrasio up to $90 million. This money will help Thrasio keep working.
Greg Greeley is the head of Thrasio. He said that with less debt and more money, Thrasio will be stronger. The company can help their brands grow, do more things, and look for new chances to make money.
Thrasio was very successful on Amazon. But things have changed since the pandemic ended. People are buying less online and times are uncertain. Thrasio’s plans to go public were dropped. In 2022, the company had to let go of about 20% of its workers. Some top people left. Greg Greeley became the new head. He used to work for Amazon for 19 years.
Vocabulary List:
- Thrasio (noun): A company that specializes in large-scale business on Amazon.
- Prosper Show (noun): An event held in Las Vegas known for its popularity among Amazon sellers.
- Debt (noun): An amount of money owed by an individual or organization to another.
- Deal (noun): An agreement or arrangement made between two or more parties.
- Public (adjective): Relating to available to or involving the community as a whole.
- Uncertain (adjective): Not able to be relied on; not known or definite.
