Farfetch's cash position has also been challenged. It has over $1 billion worth of debt in term loans and convertible notes, which a potential acquirer would have to absorb. Still, Farfetch has improved its losses in recent quarters. In addition to sunsetting its beauty arm, the company has made consistent layoffs this year. In the second quarter of the year, it reported adjusted losses before interest, taxes, depreciation and amortisation of $31 million in the second quarter, from a $24 million loss during the same period last year.