Farfetch reportedly in talks with Apollo for rescue deal

Farfetch is believed to be in talks to secure “emergency funding” from Apollo Global Management, one of several parties said to be in discussion with the struggling luxury platform.

While there is seemingly an extensive selection of suitors, a deal for the NYSE-listed company is reportedly said to be “far from certain”, according to Sky News, which cited city sources.

It was further unclear whether the new capital was to provide debt, equity or a combination of the two, with the quantum also believed to be uncertain.

An earlier report by The Sunday Times, however, suggested that Farfetch needed to secure as much as 500 million dollars.

Speculation surrounding Farfetch’s financial position began circulating amid reports that its chief executive Jose Neves had been mulling the move to take the company private.

Following its initial float back in 2018, the firm was valued at around 23 billion dollars, yet this week it had a market valuation of 221 million dollars.

There has also been hunches about Farfetch possibly looking into the options of has selling a number of its subsidiaries, including Browns and New Guards Group, in a bid to alleviate financial pressure.