Online furniture retailer Made.com is set to go into administration on Monday or Tuesday after attempts to find a buyer failed.Thousands of customers also face uncertainty over whether they will receive a refund for outstanding orders.
Administrators from PwC are expected to oversee a sale of intellectual property associated with the collapsed firm after it formally enters administration. The retailer, which sourced furniture directly from designers and manufacturers, gained a loyal base of mostly younger customers. During the pandemic lockdowns sales soared as people bought more furniture and other products online and it was valued at £775m when it was floated on the London Stock Exchange last year.
The firm announced in September that it was looking for an investor willing to keep the business trading.
Who
Needs a relaunch and to bring the prices down. Also broaden the range and cast the net wider for potential customers.
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