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CaaStle board confirms financial distress, furloughing employees
CaaStle, a startup that launched in 2011 as a plus-sized clothing subscription service and later became an inventory monetization platform for clothing
Citing a letter from the board, Axios reported that the company is almost out of money, CEO Christine Hunsicker resigned from her CEO role and the board, and the company has involved law enforcement to investigate alleged financial misconduct. Our immediate focus is on addressing the company’s challenges, supporting our employees, and preserving the value of our technology and business operations. Last week, Charlie Javice, the founder of student loan application startup Frank, which was purchased by JPMorgan for $175 million, was found guilty of defrauding the bank.
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