Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Made.com close to collapse as rescue talks end without buyer

by October 25, 2022
October 25, 2022
Made.com close to collapse as rescue talks end without buyer

Made.com has moved closer to collapsing into administration, after rescue talks to find a buyer for the struggling online furniture business failed.

The company, known for its fashionable homeware including velvet sofas, lighting and rattan furniture, announced at the start of October that it was in discussions with a number of interested parties. It had set a deadline for receiving firm offers of the end of the month.

The retailer said none of its potential buyers were able to meet the timetable, adding it was “no longer in receipt of funding proposals or possible offers for the issued and to be issued share capital of the company”.

As a result, Made.com ended the rescue talks and said it could not be certain that any offer would be made for the business, or that any offer or investment would be suitable.

Made.com said in a statement to the stock market: “If further funding cannot be raised, or a firm offer for the company is not received before the company’s cash reserves are fully depleted, the board will take the appropriate steps to preserve value for creditors.”

The retailer’s shares plunged by nearly 90% on the London Stock Exchange on Tuesday, taking them below 1p, from a listing price of 200p. The shares have tumbled by 99.5% so far this year.

It has been a remarkable reversal of fortunes for the British furniture business, less than 18 months after it floated on the stock market in June 2021 with a market value of £775m.

Over that time, shares in Made.com have tumbled from a listing price of 200p to below 1p, and the company said on Tuesday it would consider whether to request a suspension of its shares.

It comes after a difficult few months for the company, which had been one of the winners during the pandemic, when locked-down customers spent money doing up their homes.

However, Made.com warned of job cuts in July as increasingly cash-strapped consumers reined in their spending, particularly on “big-ticket” items such as furniture.

In 2021, when still enjoying strong consumer demand for its products, Made.com was hit by industry-wide supply chain problems, as Covid lockdowns led to global port congestion and extended shipping times lengthened delivery delays.

Read more:
Made.com close to collapse as rescue talks end without buyer

0
FacebookTwitterGoogle +Pinterest
previous post
FACTS DON’T LIE: Dems Push Big LIE About Conservative Causing “Violence and Disruption” Around Upcoming Election—So Far, a MI Pro-Life Door-Knocker Has Been Shot and Marco Rubio Election Volunteer Violently Attacked and Beaten [VIDEO]
next post
Pound hits highest level since before mini-budget

You may also like

HMRC under fire as thousands of ‘bogus’ Chinese...

December 11, 2024

UK construction output in ‘contraction territory’ for first...

August 5, 2022

One of Wearside’s oldest manufacturers is sailing towards...

April 26, 2023

US trade deal is not a win for...

May 9, 2025

UK Firms Set to Invest £338 Billion in...

April 18, 2024

Pound hits seven-month high and gold surges past...

April 22, 2025

Nadhim Zahawi confirms he paid nearly £5m for...

May 12, 2024

You’re not ‘working people’, Keir Starmer tells landlords...

October 25, 2024

How to Keep VIPs Safe: A Comprehensive Guide

July 11, 2023

UK defence innovation strategy opens new doors for...

June 10, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump wins over lifelong Democrat autoworker with ‘big, beautiful bill’ vehicle loan tax benefit

      June 27, 2025
    • EXCLUSIVE: Trump admin takes action after massive fraud uncovered at agency Dems tried to protect from DOGE

      June 26, 2025
    • FBI investigating Iran strike leaker, Leavitt says: ‘They should be held accountable’

      June 26, 2025
    • SMCI Stock Surges: How to Invest Wisely Now

      June 26, 2025
    • NEW! 5 Significant Additions to Our Professionally-Curated Market Summary Dashboard

      June 26, 2025
    • ‘Presidential incapacity’: Senate Republican seeks paper trail of Biden’s autopen use

      June 26, 2025

    Categories

    • Business (8,316)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved