What Drove Furniture Marketplace To A Distress Sale

A major development shook India’s new-age furniture marketplace last week. Once hailed as the poster child of online furniture retail, Pepperfry is being acquired in what appears to be a distress sale. Small-cap real estate services company TCC Concept has signed a definitive agreement to acquire Pepperfry.

Although the financial details have not been divulged, industry insiders and people familiar with the matter told Inc42 that the deal could be valued between INR 800 Cr and INR 1,000 Cr, implying a 66% erosion from Pepperfry’s peak…