[arista]

[Online furniture retailer Made.com has
stopped taking new orders after talks
to find a buyer failed,
pushing the firm towards collapsing.
Bosses warned if further funding could
not be raised before its cash reserves ran out,
it would take "appropriate steps to
preserve value for creditors".

The firm's share price plummeted after
it revealed rescue talks with potential
buyers had been terminated on Tuesday.
The company said its decision to halt orders
was "under review".
It added "a further announcement will
be made as appropriate".

The share price of the company,
which employed around 700 staff
at the end of last year, closed on
Tuesday at just 0.5p a share,
after dropping by more than 90%.

Made.com, which was launched
in 2011 with £2.5m in funding,
was co-founded by Ning Li and Brent Hoberman,
best-known for starting Lastminute.com
Chloe Macintosh and Julien Callède also helped
start the business.]


https://en.wikipedia.org/wiki/Brent_Hoberman
One Backer is South African.


https://www.bbc.co.uk/news/business-63403363

[Zizu]

Why do they chose such ridiculous company names .. like Made.com !?

There’s one called Very ..


On a side note the music industry also has odd sounding groups .. I don’t like daft group names either !

Elbow is possibly the most annoying


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[arista]

Made com stopped tradding.

In 10 days or less a Admin
will take over.

They can not afford to refund any standing orders
as they are waiting for Admin to take full control.


They did well during Covid-19
Delivering Furniture
and the shares went up.

[arista]

Ex-Made boss says offer to save company ‘rebuffed’

[The founder and former boss of Made.com
has said his offer to buy the furniture
business before it falls into administration
has been rejected.
The online retailer is set to enter administration
this week with the expected loss of some 500 jobs.

Ning Li said he had offered to buy Made with
his own cash, saving 100 jobs, but this "wasn't accepted".

Instead, administrators from PwC are likely to be
appointed and a sale of the Made.com
brand name announced.]

https://www.bbc.co.uk/news/business-63542386

[Zizu]

Serves them right for choosing such a stupid company name


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[arista]

Confirmed now in Admin.

GMBHD itv. Live


Around 600 jobs to be lost

[thesheriff443]

Originally Posted by arista

Confirmed now in Admin.

GMBHD itv. Live


Around 600 jobs to be lost

Arista can you add to the prince Andrew case because his accuser has admitted making a mistake in accusing a lawyer

They both have agreed to drop the law suits