Online furniture and homeware retailer MADE.com has this morning confirmed that it has entered into administration.
The collapse of the company comes after the retailer – which was founded back in 2010 by Brent Hoberman, the Lastminute.com co-founder, and Chinese entrepreneur Ning Li – went public last year with a valuation of £775 million following what was said to be a “stellar sales performance” during the COVID-19 pandemic.
Sales then began to fall away, however, when COVID restrictions came to an end and customers started to complain about the long waits and delayed deliveries for their orders.
MADE.com suspended trading shares over a week ago, and its market value then slumped to £2.1 million.
Up to 500 jobs are now believed to be at risk following the collapse.
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News that that MADE had filed a notice of intention to appoint administrators, and that the company was “exploring all options” – including an accelerated sale of all of parts of the business – began circulating last week.
Online furniture retailer MADE has entered into administration / Credit: made.com
Administrators at PricewaterhouseCoopers (PWC) were beginning the task of selling the company’s other assets and paying off its debts to creditors – but now it’s been announced that the company has officially entered into administration.
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It has also been confirmed today that rival retailer Next has snapped-up the MADE.com brand, its website, and intellectual property.
Speaking as the business goes into administration, Nicola Thompson – Chief Executive of MADE.com – said: “I would like to sincerely apologise to everyone – customers, employees, supplier partners, shareholders and all other stakeholders – impacted as a result of the business going into administration.
“Made is a much loved brand that was highly successful and well adapted, over many years, to a world of low inflation, stable consumer demand, reliable and cost efficient global supply chains and limited geo-political volatility – but that world vanished, the business could not survive in its current iteration, and we could not pivot fast enough.”
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The retailer has shared a message of its notice of intention to appoint administrators on its website / Credit: made.com
Ms Thompson confirmed that the brand “will now continue under new owners.”
Co-founder Ning Li said shortly before the firm’s collapse that he had submitted three proposals to MADE.com’s board and PwC to buy back the company, but he claimed his offer had been rejected.
He wrote in a statement on LinkedIn: “Apparently, it would be preferable to break the company up and sell it in pieces to generate a little more cash.
“It makes no sense to me, but I wanted you to know that I really tried.”
Featured Image – made.com
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Arrest made after 14-year-old boy found in critical condition on Market Street
Daisy Jackson
An arrest has been made after a teenage boy was found unresponsive on Market Street in Manchester city centre.
Detectives believe that the boy, 14, was approached by seven males who stole a designer jacket from him.
Following the altercation, he went into cardiac arrest and was rushed to hospital in a critical condition.
Thankfully, the teenager is continuing to recover well.
Detectives from Manchester City Centre Criminal Investigation Department confirmed that an 18-year-old male was arrested yesterday, Thursday 20 February.
He has been arrested on suspicion of robbery and remains in police custody.
Detective Inspector Mark Astbury of GMP’s City Centre Criminal Investigation Department, said: “We hope the victim can continue his recovery following what must have been a terrifying ordeal for him.
“Officers are fully investigating all aspects of this shocking incident that has left a man with serious injuries in hospital.
“Our work doesn’t stop here, we are continuing to investigate this incident and information from the public plays an incredibly important role in our investigations and I ask that the community keep talking to us and keep sharing their concerns with us so our teams can act.”
If you have any information, contact GMP 101 or 0161 856 4305 quoting log 2854 of 16/2/25.
Comedy is being prescribed instead of antidepressants as part of UK trials
Emily Sergeant
Trials are currently underway to see if comedy could be an alternative to antidepressants as a way to reduce NHS costs.
UK tech company Craic Health has secured important funding for its ‘comedy on prescription’ project that’s aimed at helping the Government work with the comedy industry, communities, and organisations on comedy-based social prescriptions in the hope that they can solve financial struggles within the NHS.
The groundbreaking scheme uses stand-up shows and workshops to help people who are isolated, lonely, and vulnerable.
Craic believes comedy is an ‘untapped opportunity’ to improve health and wellbeing, and has a goal to make comedy easier to access, so that it can help communities experience its mental health and social benefits.
To achieve this, the company has started trialling Comedy-on-Prescription experiences in the UK – starting in London, with the potential for expansion – which includes things like curated comedy panel game show events and workshops, and general stand-up comedy shows at some of the capital’s world-famous venues.
Comedy is being prescribed instead of antidepressants as part of UK trials / Credit: Wikimedia Commons
“Mental health issues like loneliness, isolation, and stress are more common than ever,” the company explains.
“So much so that it’s projected that by 2030, mental health problems, particularly depression, will be the leading cause of mortality and morbidity globally, [but] in this challenging world, comedy stands out as a universal language that breaks barriers.
“Research shows that comedy and laughter have powerful effects – they bring people together, create positive connections, and make life more enjoyable.”
Craic Health says that social prescribing, of which Comedy-on-Prescription is a part of, is all about inclusivity, which makes it making it suitable for people of all ages, backgrounds, and abilities.
Its focus is on personalised support, tailored to individual needs and preferences.
Emily Sergeant -
9th November 2022 
