Made.com to sell off existing furniture stock to recover funds for out of pocket shoppers November 15, 2022 Made.com is to sell off remaining sofas and tables, in a bid to recover funds for creditors, administrators for the collapsed furniture firm said. Auction house John Pye & Sons has been appointed by administrators of the business, which was hammered by consumers pulling back on homeware purchases. Administrators PricewaterhouseCoopers (PwC) said it had appointed [...]
Administrators make millions from Debenhams’ demise November 14, 2022 Debenhams‘ administrators have made millions in fees since the department store went under in 2020. According to reports from The Times, FRP Advisory has made more than £7.2m in fees since Debenhams filed for insolvency The administrators managed the sale of the store’s brand and website to Boohoo for £55m in January 2021, and documents reveal [...]
Mike Ashley’s Frasers in late stage talks for Gieves & Hawkes takeover November 14, 2022 Frasers Group is reportedly in late stage talks to seal a deal for Gieves & Hawkes, a beleaguered tailor which previously dressed Sir Winston Churchill and Queen Elizabeth II. Mike Ashley’s empire is swooping in for the Savile Row retailer after its Hong Kong-based owner fell into administration, Sky News first reported. The popularity of [...]
Staff take legal action against Made after job losses announced over Zoom November 10, 2022 Staff are taking legal action against Made.com after being told they would lose their jobs over Zoom yesterday afternoon. About a dozen employees have instructed law firm Aticus to pursue the legal challenge after being made redundant when the collapsed home retailer was bought out of administration by retail giant Next. Former chief exec Nicola [...]
Next snaps up collapsed Made.com in £3.4m swoop November 9, 2022 NEXT snapped up the brand, domain names and intellectual property of Made.com for £3.4m in a prepack administration this morning, just 18 months after it made its £775m London debut. In a statement this morning, Made.com confirmed it had appointed administrators PwC to sell off its other assets and pay off its debts. Former chief [...]
Made.com to fall into administration as soon as Monday November 7, 2022 Troubled online furniture retailer Made.com is reportedly set to go into administration as soon as Monday or Tuesday. It comes after attempts to find a buyer failed earlier this month, which prompted the company “to temporarily suspend new customer orders”. Hundreds of staff, most of them in the UK, are expected to lose their jobs, [...]
DFS sees “more positive” order trend after gloomy sales warnings earlier this year November 4, 2022 Sofa seller DFS said it hopes to buck a trend of furniture firms struggling amid the economic crunch, after having a more optimistic September. Since early September, the London-listed company said it had observed “a more positive trend”, in comparison to prior warnings about a softening of demand for homeware. It said group order volumes [...]
Made.com to call in administrators as furniture firm’s 700 staff left in lurch November 1, 2022 Made.com has announced the appointment of administrators after cash-strapped consumers have pulled back on big ticket spending. The London-listed furniture firm said on Tuesday that it’s board has resolved to file notice of an intention to appoint administrators at PricewaterhouseCoopers (PWC). The company had been seeking out rescue cash but interested suitors were unable to [...]
Homeware retailers ‘draw short straw’ in economic crunch as Made.com nears collapse October 31, 2022 Homeware retailers are facing a turbulent 2023 as mounting operational costs and hesitant consumer sentiment piles the pressure on the sector. It comes as Made.com was still teetering on the brink of collapse on Monday after customers have pulled back from spending on pricier items like furniture. Last week, the ailing sofa seller said it [...]
Made scraps hunt for a buyer as sofa seller nears collapse October 27, 2022 Ailing Made.com has said it has cut short its hunt for a buyer, as the homeware firm teeters on the brink of collapse. In an update to the London Stock Exchange on Thursday morning, the furniture retailer said there was “no reasonable prospect” of an offer. Shoppers have been pulling back from spending on big [...]