Tens of thousands of Made.com customers will collectively lose out on £12m worth of deposits made around the time the retailer collapsed into administration.
Shoppers paid £13.7m in deposits on large items such as sofas with the company but have recouped just £1.9m of that in charge-backs, according to documents filed last week with Companies House.
The administrators made clear that there will not be enough funds left to repay the outstanding £11.8m owed to customers, who will be among the last to be paid when money is recovered from the sale of the company’s remaining assets.
Those assets include £19m worth of stock, which is expected to fetch less than £2m at auction.
Some of Made.com’s biggest unsecured creditors include tech giants Facebook and Google and the operators of its Antwerp warehouse.
In contrast, Made’s main lender, Silicon Valley Bank, is expected to recover almost all of the £3.8m it is owed after Next purchased the Made.com brand and database in a £3.4m deal.
HMRC and Made’s employees will also be paid in full, administrators said.
Administrators from PwC were appointed to the stricken retailer on November 9 and the brand, domain names and intellectual property were purchased by Next later that day.
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