Jungle.com denies takeover talks

Rumours of takeover talks at online reseller Jungle.com have been denied by its founder and chief executive Steve Bennett.

Rumours of takeover talks at online reseller Jungle.com have been denied by its founder and chief executive Steve Bennett.

The company, which last week announced job cuts and revealed that a major credit insurer had withdrawn some of its cover, insisted it is not up for sale. But Bennett claimed that something "big" is just around the corner.

Industry sources said the company could choose between a sale or flotation, or simply try to work through the problems and hope for a Christmas order boom. Jungle's suppliers have revealed they want to see it secure additional funding before Christmas, however.

Potential buyers include retail group Kingfisher and Dixons. But despite the speculation, Bennett is confident of the company's position and is staying tight-lipped about future plans.

"We have not been approached by an organisation looking to buy Jungle as far as I am aware. We are doing perfectly well on our own. We are working on something big, but I cannot say what just yet," he said.

First published in Computer Reseller News