Falling like Flys
after a hard time on the highstreet some of the bigger (with excessive overheads) fashion retails are feeling the pinch.
Online fashion retailer EBTM put itself up for sale on today (6th Jan 09) as its financial resources were hit by poor Christmas sales and its wholesale division faced difficulties, sending its shares down 87 percent.
The company said it was in an offer period and would explore strategic options, including selling the group in whole or part, and may seek alternative short-term funding options if it was unable to find a buyer.
"Whilst conversion levels on the webstore have been strong and ahead of previous periods, traffic and average transaction values have been down and overall, trading in the online retail division has been below management expectations," EBTM said in a statement.
It's a sorry state this country is in and if customers don't support shop and events that they feel strongly about they may disappear to leaving less choice.
Online fashion retailer EBTM put itself up for sale on today (6th Jan 09) as its financial resources were hit by poor Christmas sales and its wholesale division faced difficulties, sending its shares down 87 percent.
The company said it was in an offer period and would explore strategic options, including selling the group in whole or part, and may seek alternative short-term funding options if it was unable to find a buyer.
"Whilst conversion levels on the webstore have been strong and ahead of previous periods, traffic and average transaction values have been down and overall, trading in the online retail division has been below management expectations," EBTM said in a statement.
It's a sorry state this country is in and if customers don't support shop and events that they feel strongly about they may disappear to leaving less choice.
Labels: EBTM, online retail, webstore
posted by Unknown at 1:32 pm
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