SpaceMantra pulls out resolution plan for Future Lifestyle.

The article discusses the lack of a significant demand spike during the first two days of the largest online discounting sales event, leading some marketers to increase discounts in anticipation of a rebound during Navratri. Smartphone sales declined, and even popular products like Apple's older generation iPhones did not meet sales targets. Additionally, SpaceMantra, the winning bidder for Future Lifestyle Fashions, withdrew its resolution plan for the company shortly before lenders were set to vote on it, creating uncertainty for creditors. Lastly, Wakefit, a D2C home and sleep solutions company, reported a 25% increase in revenue and a 90% decrease in losses in FY24. [Extracted from the article]