Made.com, the struggling furniture retailer, is on the verge of entering administration and it appears that Next is the frontrunner to acquire the company. While Next is the leading candidate, other companies such as the Frasers Group have also expressed interest in acquiring Made.com.

Reports suggest that Next has submitted a bid of around £2 million for Made.com’s website, brand, and other assets. This offer represents a significant decline for the once-thriving business, which saw its shares valued at almost £2 each just last year before plummeting to zero.

Unfortunately, the acquisition of Made.com is expected to result in job losses for its 500 employees. The fate of the company’s existing stock and customer orders remains uncertain, but the outlook seems bleak. Made.com has been dealing with financial difficulties for months, and after failing to secure new funding, it made the decision to file for administration.

Established in 2010 with the aim of making high-quality furniture more accessible, Made.com had impressive sales of £315 million in 2020. The company was valued at £775 million when it was listed on the London Stock Exchange. However, a combination of external factors and internal mistakes led to a swift decline in its fortunes. Despite these challenges, Made.com remained positive, even announcing its acquisition of Trouva, a London-based platform for independent boutiques and brands specializing in curated fashion, lifestyle, and homewares in May. Made.com expressed confidence that the enlarged group would use scale and marketing expertise to improve financial performance, even though Trouva itself was not yet profitable.

As the future of Made.com hangs in the balance, all eyes are on Next, anticipating whether the retail giant can successfully acquire and revive the company’s fortunes.

Useful links:
1. Made.com Official Website
2. Next Official Website