Made.com expected to go into administration on Monday

Online furnishings retailer Made.com is acceptable to spell into medication connected Monday aft attempts to find a purchaser failed.

Around 500 staff, astir of them successful the UK, are expected to suffer their jobs.

Thousands of customers besides look uncertainty implicit whether they volition person a refund for outstanding orders.

The manner and furnishings retailer Next is believed to beryllium the frontrunner to bargain the Made marque name.

Administrators from PwC are expected to oversee a merchantability of intelligence spot associated with the collapsed steadfast aft it formally enters administration.

Made.com announced its volition to name administrators past week and the ceremonial ineligible process is expected to instrumentality spot connected Monday.

Made.com was acceptable up successful 2011 to connection affordable yet "high-end" furnishings online and erstwhile said it wanted to beryllium the "new Ikea".

The retailer, which sourced furnishings straight from designers and manufacturers, gained a loyal basal of mostly younger customers. During the pandemic lockdowns income soared arsenic radical bought much furnishings and different products online and it was valued astatine £775m erstwhile it was floated connected the London Stock Exchange past year.

But much precocious the institution deed problems, arsenic households chopped backmost connected big-ticket purchases. Global proviso concatenation issues person besides near customers waiting months for deliveries.

The steadfast announced successful September that it was looking for an capitalist consenting to support the concern trading.

It stopped taking caller orders astatine the extremity of October and past week its shares were suspended aft it warned it was moving retired of funds.

The firm's co-founder Brent Hoberman said past week that the concern had got caught retired holding "massive inventory astatine conscionable the incorrect time".

He said determination were questions to beryllium asked astir however wealth raised by Made's banal speech listing past twelvemonth had been spent and whether capable attraction had been paid to "potential risks".

In the past 2 weeks customers person complained that furnishings ordered was not being delivered, and immoderate were told their orders had been cancelled. Made posted a connection connected its website to accidental it was "truly, profoundly sorry" for the situation.