Made.com goes bust with up to 500 jobs loston November 9, 2022 at 7:29 am

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

The firm, which enjoyed soaring sales during Covid lockdowns, hit problems as households cut back.

Some Made furnitureImage source, Made

Online furniture retailer Made.com has gone into administration, leading to the loss of up to 500 jobs.

The firm, which enjoyed soaring sales during Covid lockdowns, hit problems as households cut back and has appointed PWC as the administrator.

The fashion and furniture retailer Next is buying the Made.com brand name and intellectual property.

Thousands of customers face uncertainty over whether they will receive a refund for outstanding orders with Made.com.

Susanne Given, chair of Made, said: “Having run an extensive process to secure the future of the business, we are deeply disappointed that we have reached this point and how it will affect all our stakeholders, including employees, customers, suppliers and shareholders.”

She added: “We appreciate and deeply regret the frustration that [Made.com] going into administration will have caused for everyone.”

Made.com announced its intention to appoint administrators last week.

It is a dramatic change in fortunes for the brand, which boomed during the pandemic-related lockdowns as people bought more furniture and other products online.

The retailer, which sourced furniture directly from designers and manufacturers, gained a loyal base of mostly younger customers. Last year, it was valued at £775m after floating on the London Stock Exchange.

But more recently the company hit problems, as households cut back on big-ticket purchases. Global supply chain issues have also left customers waiting months for deliveries.

- Advertisement -

Discover

Sponsor

Latest

Waterloo Road: Why BBC school drama is back after eight-year breakon January 3, 2023 at 3:13 am

Stars of the school drama discuss its comeback after it was a surprise streaming hit in the pandemic.Stars of the school drama discuss its...

NFL Draft 2022: After two-year delay, event finally arrives in Las Vegason April 28, 2022 at 5:26 am

The glitz and glamour of the NFL draft is back as the top college players in the US arrive in Las Vegas hoping their...

European Indoor Championships: Nafissatou Thiam and Adrianna Sulek set two pentathlon world recordson March 3, 2023 at 7:15 pm

Watch as Adrianna Sulek sets a new pentathlon world record with a brilliant 800m run only to see Nafissatou Thiam break it and win...

Victims shocked by lack of convictions for spikingon February 15, 2023 at 1:30 am

Poppy Read-Pitt, 20, who believes her drink was spiked in 2020, says little had changed since then.By Emily AndersonJournalist, BBC East Midlands TodayA student...

France v Morocco: World’s support behind Atlas Lions for semi-finalon December 14, 2022 at 5:44 pm

Morocco have drawn football fans' support around the globe ahead of their game against France.Morocco have drawn football fans' support around the globe ahead...