London Daily

Focus on the big picture. expected to go into administration this week expected to go into administration this week

Online furniture retailer is set to go into administration on Monday or Tuesday after attempts to find a buyer failed.

Around 500 staff, most of them in the UK, are expected to lose their jobs.

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

The fashion and furniture retailer Next is believed to be the frontrunner to buy the Made brand name.

Administrators from PwC are expected to oversee a sale of intellectual property associated with the collapsed firm after it formally enters administration. announced its intention to appoint administrators last week and the formal legal process is expected to take place in coming days. was set up in 2011 to offer affordable yet "high-end" furniture online and once said it wanted to be the "new Ikea".

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.

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.

The firm announced in September that it was looking for an investor willing to keep the business trading.

It stopped taking new orders at the end of October and last week its shares were suspended after it warned it was running out of funds.

The firm's co-founder Brent Hoberman said last week that the business had got caught out holding "massive inventory at just the wrong time".

He said there were questions to be asked about how money raised by Made's stock exchange listing last year had been spent and whether enough attention had been paid to "potential risks".

In the last two weeks customers have complained that furniture ordered was not being delivered, and some were told their orders had been cancelled. Made posted a message on its website to say it was "truly, deeply sorry" for the situation.


Related Articles

London Daily
Britain’s Refugee Visa Rules Stranding Children in War Zones
UK Elections Predict ‘Electoral Extinction’ for PM Sunak’s Conservative Party
Italian Activist Ilaria Salis Returns Home After Election to European Parliament
Good morning!
England Faces Serbia in Euro Opener with Defensive Concerns
Dermatologist Warns Against Sunbed Usage
Fake Pro-Reform UK Social Accounts and Their Influence on Elections
UK Man Jailed for Non-Consensual Condom Removal
Reform UK Surpasses Conservatives in Historic Poll
US, Britain, Canada Accuse Russia of Interference in Moldova’s Election
Taylor Swift Fans Create Seismic Activity in Edinburgh
Sunak Aide Under Investigation for Election Bet
Labour Leader Starmer Focuses on Wealth Creation for Upcoming UK Elections
G7 to Use Frozen Russian Assets for $50 Billion Ukraine Aid
Anti-Israel Irish MEP Clare Daly LOST her seat in the EU Election
Johnson & Johnson Settles Talc Safety Claims for $700 Million
EU Urged to Welcome Skilled Russians to Weaken Putin
EU Elections Overview: Far-Right Gains and Major Political Shifts
Israel Rescues Four Hostages from Gaza
Emmanuel Macron Calls for Snap Election
Jordan Bardella: Young Far-Right Leader Poised for Future Political Influence in France
World's Oldest Privately Owned Book Auctioned for $3.8 Million
Animal Rights Activists Deface King Charles' Portrait in Protest
Dutch Military Intel Uncovers Extensive Chinese Cyber Espionage
Turkish Student Arrested for Using AI to Cheat in University Exam
Rise in Dengue and Other Mosquito-Borne Diseases in Europe Due to Climate Change
EU Elections Overview: Far-Right Gains and Major Political Shifts
Far-Right National Rally Dominates France's EU Vote
Macron Calls Snap Legislative Elections After Far-Right Victory
Far-Right Gains Significantly in EU Election
UK Job Market Shows Signs of Recovery
Orban’s Fidesz Party Wins Majority in Hungary’s EU Elections as New Challenger Emerges
Meloni's Far-Right Party Wins European Elections in Italy
Key Insights from the European Union Elections
European Union Elections and Rise of Far-Right Parties
England Loses Over 260,000 Social Rent Homes in a Decade
Campaigners Urge Government to Block Shein's FTSE Listing
First NHS AI-Run Physiotherapy Clinic Launches This Year
British TV Presenter Michael Mosley Found Dead on Greek Island
Ukrainian Forces Claims First Strike on Russia's Su-57 Fighter Jet
Macron Dissolves Parliament and Calls Snap Elections
Russia Adds Yulia Tymoshenko to Wanted List
UK Foreign Secretary David Cameron Tricked by Hoax Caller Posing as Former Ukrainian President
Kate Middleton's Absence from Colonel's Review Due to Chemotherapy
UK Foreign Secretary Deceived by Prank Video Call
Sunak Criticised Over D-Day Exit in BBC Debate
Rishi Sunak Apologizes for Leaving D-Day Commemoration Early
UK Woman Sentenced After Causing Fatal Crash While Sending Selfies
Danish Prime Minister Mette Frederiksen Assaulted in Central Copenhagen
UN to Add Israel to Human Rights Blacklist