Furniture etailer Sofa.com has paved the way for a possible sale or float of its business by appointing corporate advisers.
City firm Altium Capital have been drafted in following a raft of highly valued IPOs and fund raisings by firms including fashion firm Boohoo.com and appliances etailer AO.com.
The internet retailer revealed the plan in a statement on Monday. It also announced that sales at the business had increased 20% to £20.2 million in the 12 months to February 28.
It said profit on an adjusted Ebitda basis increased 48% to £5.3 million in the period.
It was revealed earlier this month that rival Made.com has also held talks with potential City advisers in recent weeks as part of plans to raise new funds for growth. It could include raising money though a stock market float or from private venture capital.
Sofa.com founder Rohan Blacker said working with Altium would take the site to 'the next stage of its journey'.
Sofa.com was founded by Blacker and Pat Reeves in 2006. They had previously established the takeaway food delivery business Deliverance in 1997.
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