Kaspien Holdings announced on December 18, 2023, that it was winding down operations and reducing its workforce by substantially all employees. The company said the plan followed an assessment of cash, liquidity and near-term debt maturities, and was intended to proceed without a bankruptcy filing. Local reporting later said Kaspien expected to close permanently on May 1, 2024, but that was an expected date—not confirmation of when it actually ceased operating.
What Kaspien announced
In a December 18, 2023 release filed with the U.S. Securities and Exchange Commission, Kaspien Holdings Inc. said it had begun an orderly wind-down. The company stated: “After an assessment of the Company’s current cash and liquidity position and near-term debt maturities, the Company has initiated a plan to wind down the Company’s operations in an orderly fashion.” This is management’s stated rationale, not an independent assessment of the company’s finances.
The release described a reduction in force affecting substantially all employees. Kaspien said it would retain a core group to carry out the wind-down and support efforts to maximize the value of the business and its assets. The company said the plan was intended to proceed without a bankruptcy filing.
When did Kaspien close?
The Spokane Journal of Business reported that Kaspien expected to close permanently on May 1, 2024. That date was a contemporaneous expectation, not a verified final operating date. The sources available here do not confirm when operations actually ended or whether later insolvency proceedings occurred. Spokane Journal of Business
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How many employees were laid off?
Kaspien announced that the reduction would affect substantially all employees, while a core group would remain to manage the wind-down. The Spokane Journal reported that the number of employees who lost their jobs and the number retained during the transition were unclear. A final layoff count is not established by the available reporting.
What Kaspien did—and how it became etailz
Local reporting traces the business to Green Cupboards, founded in Spokane in 2008 by Josh Neblett, Sarah Wollnick and investor Tom Simpson. The company adopted the name etailz in 2013. Trans World Entertainment acquired etailz in 2016 for a reported $75 million, and the business rebranded as Kaspien in 2020. Spokane Journal of Business The Spokesman-Review
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In a May 2023 SEC-filed announcement, Kaspien described itself as an e-commerce marketplace growth platform. It provided software and services to brands selling on Amazon, Walmart, Target, eBay and other marketplaces. The company’s pre-wind-down description does not establish that those services remained available after closure. SEC filing
Quick Recap
Best Value
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- Suitable for Commercial and Home Use: Printer driver, instruction videos and problem shooting videos are provided in U-Disk for better setting. Nelko PL70E label printer is much smaller than traditional printers and only requires a small piece of space to achieve printing. Very suitable for printing shipping labels, mailing labels, price labels, barcode labels, name tags and all kinds of small category labels
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Reported financial figures and what they mean
- $75 million: the reported price of Trans World Entertainment’s 2016 acquisition of etailz, according to the Spokane Journal of Business.
- $3.6 million: the Journal’s contemporaneous estimate of total wind-down costs, including reported retention and severance arrangements. It is not a final audited cost.
- $1 billion in sales: The Spokesman-Review reported in December 2023 that Kaspien reached this milestone during the pandemic-era e-commerce boom, attributing the figure to earlier reporting by the paper. It is a newspaper-reported figure, not an SEC-published figure. Spokane Journal of Business The Spokesman-Review
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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