Christmas gloom for eToys.com

Online retailer eToys.com is understood to be looking for a buyer after warning that its Christmas sales will be well below expectations.

LONDON (Brand Republic) - Online retailer eToys.com is understood to be looking for a buyer after warning that its Christmas sales will be well below expectations.

The company, which is based in Santa Monica, California, expects its third-quarter sales to be between $120m and $130m, after forecasting between $210m to £240m.

EToys will run out of cash by March without further financing and has now asked merchant bank Goldman Sachs to explore “strategic alternatives” such as a sale, merger or restructuring.

www.eToys.com



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