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The Hunsicker Proxy

Back when everyone wanted to be a tech company, Caastle pitched itself as a miracle software solution for struggling retailers to turn deadstock into a rental business. Last week their C.E.O. abruptly exited, the company furloughed its employees, and the management team told the board to disregard the previous years’ financials. What could possibly go wrong?

Christine Hunsicker
On Sunday, Caastle investors received a letter from the board stating that the company was in “a severe and immediate liquidity crisis,” that employees would be put on a two-week furlough, and that Hunsicker was resigning as C.E.O. amid a law enforcement investigation into some alleged creative accounting. Photo: Mark Kauzlarich/Bloomberg/Getty Images
Lauren Sherman
March 31, 2025

In 2018, American retail executive Christine Hunsicker debuted Caastle, a “clothes-as-a-service” platform to create and manage subscription rentals for fashion brands. Hunsicker pitched the company, conceived as a sort of B2B version of Rent the Runway, as a way for brands to generate sales on their deadstock inventory and acquire new customers along the way.