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When the markets closed Friday, it was trading at $5.83 per share - well below its $10 IPO price.Ī major reason for the falloff was a hint from Amazon in July that it planned to make a play in the meal-kit delivery market.Īs of April, the company employed a grand total of 5,137 full-time workers, and more than 80% of them worked in fulfillment.
Since then, its stock has shed nearly half its value. The company said it was "excited" to be bringing a new crop of "full-time jobs to the Linden community." But for employees who live in New York City and commute to the current center in Jersey City, just across the Hudson River from Manhattan, a move 15 miles down the New Jersey Turnpike adds a layer of complication.īlue Apron made its Wall Street debut on June 29 to a lukewarm welcome. But this is the first confirmation that Blue Apron plans to shutter its Jersey City location.
Related: Blue Apron stock gets toasted as Amazon cooks up rival serviceĮarlier this year - in documents made public ahead of its stock market debut in June - Blue Apron said it was "in the process" of building a new fulfillment center in Linden. Employees at fulfillment centers are responsible for sorting and packing the meal kit's ingredients and corresponding recipe card. It's also building a new warehouse in Fairfield, California that will open next year. Blue Apron, which delivers nationwide, also has fulfillment centers in Arlington,Texas and Richmond, California.
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