CINCINNATI, OHIO — After a six-year upward ride, online auction group Everything But The House has announced that it will close its Baltimore and Washington, DC branches, citing a planned restructuring.

Since 2012, the company has raised $84.5 million over five rounds of funding, the latest round in 2016 pulling in nearly half that at $41.5 million.

The company tapped CEO Scott Griffith in March 2018. Griffith was formerly the CEO of Zipcars.

Asked for comment on the closure, the company said, “The changes at EBTH implemented this week are part of an ongoing process to continuously improve both our customer experience and the financial performance of the company. We’re continuing to invest in six local market operations that are now processing locally under the revised business model deployed in the spring, and which will serve as a template going forward. We are also continuing to invest in technology and continuing to perfect the local marketing and sales game plan. Customers are happier, we’re seeing improving margins, and we’re really continuously benchmarking and optimizing new and better processes. The moves EBTH executed this week are also about staying laser focused, and further investing in and optimizing operations in local markets as we perfect our new local operating model before we begin expanding into new metropolitan areas.”

Recent GlassDoor reviews purport rounds of layoffs inside the company since April.

Everything But The House will continue operations centers in Cincinnati, Dallas, Chicago, Boston, Columbus and Charlotte.

For more information, www.ebth.com.