Made co-founder ‘powerless’ and ‘frustrated’

One of the co-founders of says he is ‘frustrated’ and ‘powerless’ at the etailer’s position.

Ning Li, who founded in 2010 with Brent Hoberman and Chloe Macintosh, criticised the recent direction of the business.

‘The mantra was simplicity – because it meant value for our customers and cost efficiencies for the business. From where I am sitting today I think the brand has lost sight of that focus in recent years, – and as a result, lost its strength. The brand was my baby. It pains me to see that suddenly the lifeline of many employees and hundreds of suppliers – some of them have been with the business over a decade – is in jeopardy.

‘I feel both powerless, having stepped down as chief executive in 2017, but also immensely frustrated as lawyers and the board has formally forbid me to even talk to any of them.’

Li remains’s third largest shareholder with an 8.56% stake, which is now virtually worthless.



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