Shipping firm Pitney Bowes Inc. agreed to liquidate much of its ecommerce business in bankruptcy as part of a deal with Hilco Global.
Under the agreement, affiliates of Hilco agreed to buy a controlling stake in the ecommerce business and then sell it off piecemeal, according to a statement from Pitney Bowes. The ecommerce entities filed for Chapter 11 bankruptcy Thursday, listing debts and assets of as much as $500 million each.
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