What Drove Furniture Marketplace To A Distress Sale

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A major development shook India’s new-age furniture marketplace last week. Once hailed as the poster child of online furniture retail, Pepperfry is being acquired in what appears to be a distress sale. Small-cap real estate services company TCC Concept has signed a definitive agreement to acquire Pepperfry.

Although the financial details have not been divulged, industry insiders and people familiar with the matter told Inc42 that the deal could be valued between INR 800 Cr and INR 1,000 Cr, implying a 66% erosion from Pepperfry’s peak…



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What Drove Furniture Marketplace To A Distress Sale


A major development shook India’s new-age furniture marketplace last week. Once hailed as the poster child of online furniture retail, Pepperfry is being acquired in what appears to be a distress sale. Small-cap real estate services company TCC Concept has signed a definitive agreement to acquire Pepperfry.

Although the financial details have not been divulged, industry insiders and people familiar with the matter told Inc42 that the deal could be valued between INR 800 Cr and INR 1,000 Cr, implying a 66% erosion from Pepperfry’s peak…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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