Farfetch falls amid report it's trying to secure last minute deal

seekingalpha2023-12-16

Farfetch (NYSE:FTCH) fell 5.5% amid a report that it's working to secure a last-minute deal with a new group of investors. The online luxury goods retailer is expected to make an announcement over the...

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The online luxury goods retailer is expected to make an announcement over the weekend or by Monday at the latest, according to a report from Miss Tweed, which cited sources familiar with the matter. Farfetch (FTCH) employees received their December salary this week, two weeks in advance, as the company is trying to make sure staff are paid, according to the publication, which cited a source close to the company. The announcement that Farfetch (FTCH) will make is expected to confirm that the company's deal with Richemont (OTCPK:CFRHF) has been terminated, according to the report. Farfetch founder Jose Neves and a company spokesperson declined to comment to Miss Tweed. The latest update comes after a Sky News report on Wednesday indicated that Farfetch (FTCH) was in talks to secure emergency funding from private equity firm Apollo Global (APO) as the online luxury goods site tries to shore up its finances. Developing story ... More on Farfetch  Farfetch Limited: Bankruptcy Risk Elevated As Inflection Point Reached Farfetch: The Long Road Back To Regaining Credibility Farfetch Q3 Preview: Faces Debt Dilemma Farfetch price target cut to likely street low 80c at UBS amid current uncertainty Farfetch in talks to secure emergency funding from Apollo Global - report","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2391615074"}