Once Valued at $1 Billion, Gilt Is Reportedly on the Block for $250 Million
Fashion e-commerce site Gilt, once valued at $1 billion, is in advanced talks to be acquired by Saks Fifth Avenue’s parent Hudson’s Bay Company for $250 million, according to the Wall Street Journal.

Gilt, which operates limited-time sales of designer clothes, accessories and home goods, has been struggling to maintain its once red-hot growth. Earlier this year, the online retailer put its plans for an initial public offering on hold.
Gilt had previously raised over $250 million from Softbank, Matrix Partners and General Atlantic. The company declined to comment on the report.
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