Purplebricks Group (PURP.L), Britain’s largest online-only estate firm, said Tuesday it was unlikely to return to revenue generating in the early financial year 2024.
Purplebricks failed to execute a new operational model in 2022, had at least three significant management reshuffles, and one of its top-10 shareholders, Lecram Holdings, requested Paul Pindar’s resignation as well chairman. In February, the business announced a strategic review after its board believed an “alternative ownership structure” may better realize the group’s potential. In March, the business announced a formal selling procedure for that review.
On Tuesday, the firm said it intends to conclude the financial year ending April 30 by its estimates and that a limited number of parties remain in talks to sell parts or all of its business and assets.
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