Purplebricks, the online estate agency, has reported poor trading figures and is now considering putting itself up for sale. The company, which was founded in 2014, has seen a sharp decline in its share price since its peak in 2018, and is now looking for potential buyers.
Purplebricks is a UK-based online estate agency that offers customers an alternative to traditional high street estate agents. The company has grown rapidly since its launch, and now has operations in the UK, US, Australia and Canada. However, the company has recently seen a sharp decline in its share price, which has led to speculation that the company may be up for sale.
The company has reported poor trading figures for the first half of 2019, with revenues falling by 8% and profits down by 50%. This has been attributed to a number of factors, including increased competition from traditional estate agents and a slowdown in the UK housing market. In addition, the company has faced criticism from investors over its high costs and lack of profitability.
In response to these issues, Purplebricks has announced that it is considering putting itself up for sale. The company has said that it is in talks with potential buyers and is looking at a range of options, including a sale of the business or a merger with another company.
The news of Purplebricks’ potential sale has been met with mixed reactions from investors and analysts. Some have welcomed the move as a way to reduce costs and improve profitability, while others have expressed concern that the company may be sold at a discount.
It remains to be seen what will happen to Purplebricks in the coming months. The company is currently evaluating its options and considering potential buyers. In the meantime, investors and analysts will be watching closely to see how the situation develops.