The ‘big three’ of e-commerce sites have failed to deliver on their promises

E-commerce giant Amazon is on the brink of bankruptcy, and one of the biggest companies in the business is in talks with regulators to seek a bail-out.The US e-retailer is facing a huge pile-up of legal and regulatory issues and is looking for help from the US Federal Trade Commission (FTC), which is also investigating…

Published by admin inOctober 19, 2021
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E-commerce giant Amazon is on the brink of bankruptcy, and one of the biggest companies in the business is in talks with regulators to seek a bail-out.

The US e-retailer is facing a huge pile-up of legal and regulatory issues and is looking for help from the US Federal Trade Commission (FTC), which is also investigating the company.

Amazon’s stock fell to its lowest level in nearly five years on Thursday as investors took to the stock market to sell off shares.

In a letter to Amazon’s board on Wednesday, a US judge said the company should file for Chapter 11 bankruptcy protection.

The court said Amazon “will not be able to satisfy its creditors or make its creditors whole”.

Amazon’s CEO Jeff Bezos, who has overseen Amazon for more than a decade, has said that the company is “at risk” from the crisis.

The company has said it has no plans to make any changes to its business model.

Last week, Amazon’s shares plummeted to record lows, losing about $2.3 billion in a week.

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