ShiftPixy, a Florida-based staffing platform that connects gig workers with businesses in need of temporary employees, is heading toward an asset auction following its recent Chapter 11 bankruptcy filing. The auction process is being managed by Hilco Streambank, a well-regarded advisory firm specializing in asset sales, which is now actively seeking bids for ShiftPixy’s assets.
Auction Details and Timeline
Hilco Streambank announced that it will be accepting bids for the company’s assets until December 6, with a tentative auction date set for December 10. The auction is contingent on approval from the bankruptcy court, which will oversee the proceedings. If the sale proceeds as planned, the company’s assets, which include its proprietary technology and digital platform, could find new ownership as early as mid-December.
The Rise and Fall of ShiftPixy
Originally founded in California, ShiftPixy made the strategic decision to relocate its headquarters to Miami in 2021. The move was aimed at leveraging the region’s deep talent pool in retail, healthcare, and hospitality sectors. The company’s core offering is a sophisticated digital platform that uses artificial intelligence to streamline the recruitment, onboarding, and scheduling of temporary workers. According to Hilco Streambank’s Chief Commercial Officer, Richelle Kalnit, ShiftPixy has been instrumental in connecting over 88,000 gig workers with businesses, adapting to the fluctuating demands of industries such as light industrial services, hospitality, and healthcare.