Founder José Neves and eight other c-suite executives are departing the luxury marketplace, which faces an uncertain future under its new owner.

The luxury marketplace's founder is one of several high-ranking employees who are leaving less than a month after the company was acquired by Coupang.

The South Korean e-commerce firm Coupang has saved Farfetch from potential bankruptcy, and could use its logistical and marketing might to solve some of the luxury e-tailer’s seemingly intractable problems. But “everything stores” have a spotty track record when it comes to high-end retail.

The deal provides the online luxury giant with $500 million in emergency funding. A complex transaction that would have seen Farfetch acquire a 47.5 percent stake in Yoox-Net-a-Porter from Richemont is dead.

Farfetch is in discussions with a liquidity provider to secure $500 million in emergency funding, in a deal that would also take the company private and wipe out shareholders, according to a report from The Sunday Times.

Reports of financial strain at Farfetch amid a stalled deal with YNAP has driven confidence in multi-brand e-commerce to all-time lows. With value propositions eroding and investment drying up, a way forward remains unclear.

The e-commerce giant is seeking a cash injection to avert a collapse that could send shockwaves across the fashion industry. So far nobody has come to the table and time is running out, but founder Jose Neves may yet have a move up his sleeve.

The luxury e-tailer could be the latest e-commerce firm to go private amid its worst year as a public company. But Farfetch’s much scrutinised lack of focus could persist outside the public market.