Trouva, an online marketplace, has been facing significant delays in payments to its independent retailers, causing concern and uncertainty.
- Retailers have been waiting for over two weeks without payment despite promises from Trouva to resolve the issue swiftly.
- The problem arose from an unexpected issue during a new funding round, according to Trouva’s communications.
- Many retailers have ceased selling on the platform due to the lack of payment and communication from Trouva.
- Confidence in Trouva is waning as retailers anticipate further delays and potential problems.
Trouva, a well-known online marketplace partnering with over 650 boutiques across Europe and the UK, has been experiencing significant payment delays to its independent retail partners. The disruption, lasting over two weeks, has caused a substantial strain on retailers who rely on timely payments to maintain their operations.
Retailers received communication from Trouva stating that the delays were due to unforeseen issues in completing a new funding round. This explanation, however, has done little to appease the affected parties, as many continue to face financial difficulties without a clear resolution in sight.
One unidentified retailer expressed that the company has not provided significant updates since the initial communication and that attempts to contact Trouva for more information have been unsuccessful. The retailer mentioned that July payments were missed, escalating concerns over the company’s capacity to fulfil its obligations.
In response to these ongoing issues, some retailers have opted to suspend their activities on the Trouva platform. They have advised other retailers to take similar actions by placing their accounts in ‘holiday mode’ to prevent further transactions until the situation is resolved.
Another retailer highlighted the uncertainty surrounding Trouva’s financial stability, remarking that payments have not been received for months. Despite claims from Trouva that upcoming funding will rectify the situation, the lack of a definitive payment timeline has left many uncertain about the future.
The unresolved payment delays by Trouva have fostered a climate of uncertainty and distrust among its retail partners.
