Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
78% of e-retailers say sales will increase over the next year, a study finds.
U.K web-only retailers have a more positive outlook about future sales than their bricks-and-mortar counterparts in the region, a new survey suggests.
In a recent poll of 1,000 retailers conducted by web hosting vendor 34SP.com, 78% of web retailers say they think sales will increase over the next year, while 27% of bricks-and-mortar businesses say the same.
Additionally, 40% of bricks and mortar retailers say they think the state of the U.K. economy is “bad” compared to just under a third (32%) of e-commerce businesses. 19% of bricks-and-mortar and 17% of online-only businesses say they think the state of the economy is “good.”
When asked about the likely state of the U.K. economy a year from now, 41% of e-commerce businesses think the economy will be much healthier, compared to 36% of bricks-and-mortar businesses.
"What is clear from these figures is that online retailers feel much better placed to take advantage of an improving economic climate," says Daniel Foster, founder and technical director of 34SP.com. "Although both e-commerce and high street businesses expect to see a significant improvement in the state of the U.K. economy over the next twelve months, online retailers feel more confident that this will feed through to stronger business performance." “High street” is the British term for main street.