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Cocosa ceases trading

Luxury off-price site Cocosa has ceased trading and will not accept any returns from the end of this week.

It was announced in October that the website, which is owned by Mohamed Al-Fayed, was to be closed down, but the site has now officially stopped trading.

It is understood that at least two companies were bidding to take the business on, but no deal has been secured.

A message sent to customers today said the etailer would not be accepting or processing any returns received after February 28. It added: “As we have said before, we do hope to return one day in the future, until then we wish you all the very best.”

The flash Sale site, which launched in 2008, was acquired by the Al Fayed group in July 2011 from the Bauer Media Group.

When the business’ closure was announced a statement released by the company said: “Cocosa made significant progress in its sector and built a reputation for quality products and customer service in the luxury fashion off-price flash sales market. Despite this progress, the costs of continuing to build the brand to market leadership were deemed too high to merit material further investment.”

Readers' comments (4)

  • Al Fayed has seen sense and not wanted to throw good money after bad! its a shame Brand Ally and Secret Sales owners don't see it either - different when your using your own money I guess

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  • Agree with above, brands have realised dealing with these operator's in an open market like the internet where very one sees what your doing damages your brand! and lets face it they cant even make money not owning the stocks which says it all really

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  • Good riddance if you ask me....

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  • I'd love to 'buy' stock and only pay for it once sold / from the proceeds - what a dream!

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