The owner of online fashion marketplace Trouva is calling to suspend trading while it puts the business up for sale for the fourth time in less than three years.
The owners, Project J, are working with accountancy firm RSM to find a new buyer, Sky News reported.
Project J also owns home and living marketplace Fy!, which is understood to be not affected by the sale process.
A source close to the company said it had taken the decision to pause orders and sales during the search for a new owner in order “to protect customers and sellers”.
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In the last three years, Trouva has been owned at various points by Made.com and briefly by Made.com owner Next, a vehicle called Re:store before it was acquired by Project J last year.
Project co-founder Jonathan Thomson said: TThis has been an incredibly difficult decision, but we have decided to focus our efforts on building the Fy! brand and explore the options for a sale of Trouva.”
“By exploring a potential sale, we are creating an opportunity for Trouva to continue its journey.
“We believe this is in the best interests of the business, boutiques and the team.”
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