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Online marketplace Trouva has halted trading while it explores the possibility of selling the business, Sky News has reported.
According to Sky, the owner of Trouva Project J is now working with accountancy firm RSM to find a buyer. This would be the fourth sale for the business in less than three years.
A source close to the company said that the business has taken the decision to pause orders and sales while exploring the search for a new owner in order “to protect customers and sellers”.
In the last three years, Trouva has been owned at various points by Made.com, then briefly by Next and then by a vehicle called Re:store. It was acquired by Project J last year.
Jonathan Thomson, co-founder of Project J told Sky News: “This 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.”
Trouva has been contacted for comment.
