Pitney Bowes (PBI) to Scrap Its E-Commerce Unit in Bankruptcy

Shipping company Pitney Bowes Inc. has agreed to liquidate a significant portion of its e-commerce business in bankruptcy as part of a deal with Hilco Global.

According to the statement, under the agreement, Hilco-affiliated companies agreed to buy a controlling stake in the e-commerce business and then sell it piece by piece. from Pitney Bowes. The e-commerce entities filed for Chapter 11 bankruptcy on Thursday, listing debts and assets worth as much as $500 million each.