News / Pitney Bowes bows out of global e-commerce with sale of loss-making GEC

Online shopping and e-ID 44905065 © Gajus | Dreamstime.com

Parcel giant Pitney Bowes (PB) is making a fast exit from e-commerce.

Hours before tabling its Q2 results yesterday, the global shipping and mailing company that provides technology, logistics and financial services to over 90% of the Fortune 500, announced it had sold a controlling interest in its Global Ecommerce (GEC) segment to Hilco Commercial Industrial, for the purpose of winding down the business.

Hilco immediately placed two units of GEC into Chapter 11 bankruptcy protection ...