Farfetch in Talks for Emergency Funding Amid Financial Struggles

Shares Rise as Potential Investors, Including Carmen Busquets, Look to Rescue the Online Luxury Retailer

Online luxury retailer Farfetch is in talks with Apollo Global Management and other firms to secure emergency funding, though a deal is not yet certain.
Farfetch's shares rose by as much as 24% amid the news, with its market capitalization standing at about $220.9 million.
Moody's recently downgraded Farfetch's credit rating deeper into 'junk' territory and put it on review for a further cut due to its deteriorating financial position.
Farfetch founder and CEO Jose Neves has reportedly been in talks to take the company private, but Richemont, a top shareholder, has stated it will not inject any cash into the retailer.
Potential investor Carmen Busquets is looking to raise between $500 million and $1 billion to rescue the company, proposing a five-year plan for fast growth and profitability.