In an e-mail to independents at the moment (31 January) seen by Drapers, {the marketplace} mentioned: “We’ve made the tough resolution to briefly pause buying and selling on Trouva whereas we actively search a purchaser for the enterprise.
“This resolution was not made evenly and we sincerely apologise for any influence it might have on what you are promoting.”
The corporate mentioned retailers will not obtain new gross sales by way of Trouva and pending orders will probably be cancelled and refunded.
One menswear impartial informed Drapers: “We’ve quite a lot of [international] orders presently in transit that aren’t being launched to clients so we’re getting loads of warmth from clients. However there may be nothing we are able to do.”
Trouva works with greater than 650 trend, dwelling and way of life independents throughout the UK and Europe, transport to greater than 30 international locations worldwide.
It comes after {the marketplace} left a number of hundred boutique homeowners unpaid for months, with late funds relationship again to early August. A number of retailers informed Drapers in November that they had nonetheless not acquired their cash owed.
Trouva was launched in 2015 and was acquired by Mission J, the proprietor of homeware market Fy!, in April 2024. The acquisition was the third time Trouva modified fingers in two years, having been owned by Made.com and by Re:Retailer beforehand.
Jonathan Thomson, co-founder of Mission J, mentioned: “This has been an extremely tough resolution, however we’ve determined to focus our efforts on constructing the Fy! model and discover the choices for a sale of Trouva.
“By exploring a possible sale we’re creating a chance for Trouva to proceed its journey. We imagine that is in the perfect pursuits of the enterprise, boutiques and the group.”
