Made.com will be placed into members’ voluntary liquidation to formally wind up the company, a shareholder vote on the future of the company has concluded.
The decision comes after the furniture and homewares retailer entered administration last year as a result of rising costs and reduced demand for homewares during the economic downturn.
The brand, its website and its intellectual property were snapped up by Next for £3.4m in November, a week after it announced its collapse.
Upon the acquisition, Made chief executive Nicola Thompson, who only took the reins in February following the abrupt departure of former boss Philippe Chainieux, issued an apology to everyone associated with the business and insisted the leadership team had “fought tooth and nail” to put it on a firmer financial footing.
She said: “I would like to sincerely apologise to everyone – customers, employees, supplier partners, shareholders and all other stakeholders – impacted as a result of the business going into administration.
“Over the past months, we have fought tooth and nail to rapidly resize the cost base, re-engineer the sourcing and stock model, and try every possible avenue to raise fresh financing and avoid this outcome.
“Made is a much-loved brand that was highly successful and well adapted, over many years, to a world of low inflation, stable consumer demand, reliable and cost-efficient global supply chains and limited geopolitical volatility. That world vanished, the business could not survive in its current iteration and we could not pivot fast enough.
“The brand will now continue under new owners. I hope that a reconfigured Made will prove to be sustainable and will continue to be loved by customers.”
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