US-based online furniture retailer Dot & Bo has confirmed it has ceased trading after failing to secure a new partnership.
The company, which was launched three years ago, officially closed down its operations last week on 23 September 2016, ending a short lived presence which saw the business grow around 16x its initial size, serving ‘millions’ of customers through the US market.
Dot & Bo revealed that it had been in ‘deep discussions’ in a bid to be acquired by a ‘prominent public company’ but were unable to agree a deal resulting in the partnership not ‘coming to fruition’.
The company has now ceased its ecommerce function on its website, www.dotandbo.com, with just a statement in its place confirming the businesses actions.
A statement from Dot & Bo said: “It is with a heavy heart that we must share that Dot & Bo will be ceasing all operations.
“We are humbled to have had such loyal customers and are extremely proud of the impact we made on the home furnishings market, but ultimately we were unable to find backers with the necessary vision to help us achieve our mission.”