<ul><li>Fashion rental startup CaaStle is facing financial distress and has furloughed all of its employees.</li><li>The company confirmed the almost depleted funds, CEO's resignation, and involvement of law enforcement due to alleged financial misconduct.</li><li>CaaStle raised over $530 million in total, but the board alleges that the CEO misled investors about the financial performance and capital.</li><li>Experts predict 2025 to be a challenging year for failed startups, making CaaStle's situation not uncommon.</li></ul>

CaaStle board confirms financial distress, furloughing employees

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