Popular ecommerce company Zulily is shutting down as it struggles to compete with Amazon

Happy Wednesday, Daily Money readers! It’s Paul Davidson bringing you the latest headlines as you count down to 2024.

Zulily, the popular online clothing and children’s retailer, is going out of business.

The company, which has struggled to compete with Amazon, said it will “strive to provide everyone with the best service possible during this holiday season.” It said it will try to fulfill all pending orders and refund those that can’t be filled.

The company, founded in 2010, offered products ranging from clothing to home décor but has had several rounds of layoffs in recent years. It said it will enter into an Assignment for the Benefit of Creditors instead of filing for bankruptcy.

6 financial moves by New Year's Eve

The clock is ticking.

The end of the year is a great time to take stock of your finances and make some moves before the ball drops in Times Square.

Paste BN asked several financial planners for their thoughts on key financial steps to take over the next couple of days. Their advice touches on retirement savings, insurance coverage and tax shelters.

For example, you might want to sell an investment that has performed poorly and take the loss to lower your 2023 tax bill. Or contribute to your favorite charities and deduct the donations, assuming you itemize your deductions.

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Recall Alert

Recalls affected more than 2 million Honda vehicles last week, along with Porsche, Tesla, Ford and Mercedes-Benz models, the National Highway Traffic Safety Administration said.

Honda is recalling 2.5 million 2017-2020 vehicles because the fuel pump inside the fuel tank may fail

Tesla, meanwhile, is recalling about 120,000 2021-2023 Model S and X vehicles because the cabin doors can be unlocked during a crash. And Ford is recalling about 190,000 2022-2024 Maverick pickup trucks because of a broken turn signal, among other recalls last week.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.