Leicester-headquartered retailer Next has swooped for the brand, website and IP of online furniture firm Made.com.
It comes after Made.com’s operating subsidiary’s collapse, appointing PWC as administrators.
In a statement to the London Stock Exchange, Susanne Given, chair of Made, said: “Having run an extensive process to secure the future of the business, we are deeply disappointed that we have reached this point and how it will affect all our stakeholders, including employees, customers, suppliers and shareholders.
“We appreciate and deeply regret the frustration that MDL going into administration will have caused for everyone.”
The company had attempted to find a buyer, though talks failed.
In interim results for the six months to 30 June 2022, when the firm faced a significant reduction in demand, supply chain problems and the cost of living squeeze following a boom in the pandemic, Made’s losses before tax widened to £35.3m, compared to a loss of £10.1m in the same period in 2021. Revenue meanwhile grew to £178m from £171m.
