Trouva has suspended trading as the online fashion marketplace’s owner searches for a buyer. Project J has hired accountancy firm RSM to find the platform’s fifth owner in less than three years.

The online marketplace offers a platform for independent stores and boutiques that don’t have an online retail presence.

A source close to the company told Sky News, which broke the story, that it had taken the decision to pause orders and sales during the search for a new owner in order “to protect customers and sellers”.

Project J, itself a home and living marketplace, acquired the business last year. It said its wider business would be unaffected by the proposed sale process.

Jonathan Thomson, co-founder of Project J, added: “This has been an incredibly difficult decision, but we have decided to focus our efforts on building the Fy! brand and explore the options for a sale of Trouva.”

He added: “By exploring a potential sale, we are creating an opportunity for Trouva to continue its journey. We believe this is in the best interests of the business, boutiques and the team.”

Most recent previous Trouva owners have included Re:store in 2023, and Made.com which bought the business in spring 2022.

Launched in 2015, Trouva claims relationships with over 700 boutiques across Europe.