Thrasio Holdings, which acquires third-party sellers on Amazon , is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday.

Thrasio, an early mover and leading player in the wave of startups emerging to consolidate and scale companies that sell their goods mainly via Amazon's Marketplace, has raised some more funding and is making a key executive appointment to do some scaling of its own. The company, which to date has acquired and consolidated over 100 brands (and 15,000 products) selling on Amazon, has picked up $100 million, and alongside that it's announcing a new CFO, retail vet Bill Wafford, as it eyes up its next steps, including a public listing. Josh Silberstein, who is the co-founder and co-CEO with Carlos Cashman, said Thrasio is not disclosing valuation except to note that it is 50% higher than the it was a month ago for Thrasio, which made a profit of $100 million on $500 million in revenues last year, he said.