Made.com, the popular furniture retailer, has recently been acquired by Next Retail Limited. The acquisition includes the brand, domain names, and intellectual property of Made.com, and Next Retail Limited, which already has a significant presence in the furniture retail sector, is seen as a positive new owner for the brand. Next has a track record of successfully acquiring and nurturing brands, which bodes well for the future of Made.com.

Alongside this acquisition news, Made.com has appointed administrators from PricewaterhouseCoopers to oversee the remaining assets of the company that were not taken over by Next. Zelf Hussain, Peter David Dickens, and Rachael Maria Wilkinson will handle the administration process.

The exact amount paid by Next for the business has not been disclosed, but there are speculations that it is around £2 million. Made.com has stated that the assets not acquired by Next will be realized by the administrators, and payments will be made to creditors based on statutory priority. Frasers Group had also shown interest in buying the brand, but Next’s acquisition went through.

The suspension of Made.com’s ordinary shares from trading on the London Stock Exchange’s Main Market on November 1 marked the winding up of the company. The company’s shares had drastically declined in value in recent months, leading to a market capitalization of only £2 million. This is a significant decrease compared to its valuation in mid-2021 when shares were trading at around £2 each, valuing the company at hundreds of millions of pounds.

Susanne Given, Chair of Made.com, expressed disappointment in the company’s situation and the impact it will have on employees, customers, suppliers, and shareholders. Despite efforts to secure new backing, the company faced insurmountable challenges and ultimately had to enter administration.

Earlier this year, Made.com showed signs of expansion with the acquisition of Trouva in May. However, a combination of internal and external factors led to a severe depletion of finances, making administration inevitable.

The acquisition by Next brings hope for the future of Made.com, as a reputable retailer with a strong presence in the furniture retail sector takes charge of the brand. Next is well-positioned to nurture and grow the Made.com business. While it is a disappointing turn of events for Made.com, stakeholders can find comfort in the fact that the company has found a new owner and may have a chance at revitalization in the future.

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