, the popular online furniture retailer, has found itself in a tough spot and has recently announced a strategic review and the launch of a formal sale process. The company has been grappling with a myriad of challenges, including a decline in consumer spending as well as disruptions in supply chains. These difficulties have forced to withdraw its full-year guidance, highlighting the severity of the situation. In response to the crisis, the company is conducting a strategic review of its workforce and exploring various options to secure additional funding. These options include debt financing, strategic partnerships, a potential sale of the company, or even a business combination with another entity.

The gravity of the situation is evident in the stock price, which took a major hit.’s stock price plummeted by a staggering 23% on Friday alone. This decline is not an isolated incident, as the company’s shares have dropped by nearly 97% over the past year. This dramatic decrease has resulted in’s total market capitalization falling below £18 million, a far cry from the £1.40 per share it was trading at just a year ago. is not the only company facing such challenges. Others, like Joules, have also witnessed a decline in both share price and valuation due to external factors such as the ongoing Covid-19 pandemic and supply chain disruptions stemming from Russia and Ukraine. Additionally, Next’s anticipated equity stake in Joules has been canceled, further highlighting the difficult market conditions currently faced by retailers.

With the current market conditions making it difficult to raise sufficient equity from public investors, is left with no choice but to explore alternative avenues to secure additional funding. The company’s main objective is to maximize value for its shareholders while navigating through these turbulent times. As the formal sale process commences, the future of hangs in the balance, and stakeholders will be closely monitoring the outcome to see how the company weathers this storm.

Useful links:
1. Official Website
2. BBC News Article on’s Challenges