Made.com to call in administrators after failing to secure buyer

Made, which was unable to achieve a sale, has just filed notice of intention to appoint administrators. It is anticipated that Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PwC will be appointed.

The retailer, which last week suspended new customer orders as it battled for survival amid a financing crisis and tough trading, launched a strategic review in September alongside a formal sale process.

Made.com only listed last year, following in the footsteps of a raft of retailers – mainly online – that benefited from a home-shopping boom during the Covid pandemic. The retailer was valued then at £775m but now it is unclear how much value can be recovered.

The retailer said: “During the strategic review process, Made received proposals from interested parties to acquire certain of or substantially all of [operating subsidiary] MDL’s trade, assets and brands.

“Any such sale of MDL’s trade, assets and brands would at this stage be effected by administrators of MDL following their appointment. There can be no certainty that any such sale will proceed or as to the terms or timing of any such sale.

“The board currently expects that, in due course, the listing of the company’s ordinary shares will be cancelled, any residual value will be distributed to the company’s shareholders and the company will be wound up.”

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