Online retailer Made expected to go into administration this week
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.
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