Boxed gets final approval to use cash collateral of lenders

By Sarah Lizee

Olympia, Wash., May 2 – Boxed, Inc. received final approval to access the cash collateral of its prepetition first-lien secured lenders, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Currently, the company has about $41.5 million outstanding under a first-lien credit agreement with Alter Domus as administrative agent.

Boxed intends to fund and protect its near-term operations and cover administrative expenses through access to the cash collateral.

Boxed is a New York-based e-commerce technology company that provides bulk pantry consumables to business and household customers. The company filed bankruptcy on April 2 under Chapter 11 case number 23-10397.

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