Made.com Plans To Liquidate Business

Furniture retailer Made.com is considering plans to liquidate its business just a month after the company went into administration.

In its regulatory filing, the company noted that liquidation is seemingly the most cost-effective option to generate shareholder value at this point in time, and it plans to appoint liquidators to take stock of its remaining assets.

The company went into administration in November, two months after it put itself up for sale. While several companies stepped in to acquire the business, they all failed to meet its acquisition deadline, which led to the company’s delisting from the London Stock Exchange. Fast forward to November, Next agreed to buy the retailer’s domain name and intellectual property for $4 million.

The asset liquidation will mark the demise of the 12-year-old company, which made its debut on the London Stock Exchange less than two years ago at a $931 million valuation. At its peak, the company held offices in the United Kingdom, Ireland, France, Belgium, Germany, Austria, Netherlands, Switzerland, and Spain. It also operated several warehouses across Europe and Asia.

Unfortunately, the company’s business took a downturn after severe supply chain issues and a lack of consumer demand for big-ticket items resulting in surplus inventory and poor financial standing.

Photo credit: Made.com

Originally published on https://retailbum.com on December 22, 2022.