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APRN - Blue Apron Is Cooking Up an Exit Strategy After Another Disappointing Quarter
Blue Apron Holdings Inc. Class A
Blue Apron(NYSE: APRN) is throwing in the apron. After reporting yet another quarter of continued losses, falling revenue, and customer defections, the meal kit delivery specialist is getting out of the game if it can find a buyer or someone to merge with.
Even though it has actually been quite successful in implementing its business strategy, it was a flawed plan all along. It remains to be seen what, if any, value a potential acquirer would place on a business that is trying to make itself a negligible part of the marketplace.