Questions raised over Glasses Direct funding

Glasses Direct, the online prescription eyewear retailer founded by Jamie Murray Wells, has embarked on a multi-million pound fundraising drive to support the company's rapid growth programme, it has been reported.

Although, no official figures have been confirmed by the online entrepreneur, a source told the Daily Telegraph last week (February 28) that Glasses Direct was aiming to raise between £6m and £8m.

According to the newspaper, in accounts filed at Companies House last Friday, Glasses Direct's auditors adopted a cautious tone on the likely success of the fund-raising exercise.

It was also reported that Glasses Direct was operating at a loss and the newspaper quoted its auditors as warning investors and suppliers that 'there can be no certainty in relation to either the timing or the amount of any new funding becoming available.'