Pandion, a Bellevue, Wash.-based delivery startup that launched during the pandemic-fueled e-commerce boom, has become the latest company to fall victim to the subsequent venture capital crunch and a return to normalcy in online retail.

The company informed employees Friday afternoon that it’s shutting down immediately, after talks with potential acquirers proved unsuccessful. Employees will be paid through Jan. 15, without severance.

Pandion employed 63 people. As a result of discontinuing operations, the company’s headquarters in Bellevue will close, as will its five sortation centers, in Los Angeles, Dallas, Atlanta, Chicago and Philadelphia.