A court has declared online home retailer Fonq bankrupt, according to the company’s trustees on Friday. They are now exploring whether parts of the business, including Naduvi, can be relaunched. Around one hundred employees are at risk of losing their jobs.
Fonq had already received creditor protection earlier this month after failing for some time to become consistently profitable. Although a new management team worked on improvements over the past year, the company ultimately required additional investment, funding that could not be obtained.
The trustees say they are still working on various scenarios “that offer prospects for preserving activities and employment.” However, they do not wish to provide further details. They are…