News

Online furniture retailer MADE enters administration with hundreds of jobs at risk

Emily Sergeant Emily Sergeant - 9th November 2022

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.

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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

News

Manchester palaeontologist unearths bones of what may be the largest known marine reptile

Emily Sergeant Emily Sergeant

A Manchester-based palaeontologist has unearthed the bones of what may be the largest known marine reptile.

This new identification is a crucial part of a fascinating eight-year long discovery journey.

It all started when a seasoned fossil collector named Paul de la Salle found a giant jawbone on Lilstock Beach, near Bridgewater in Somerset, back in May 2016, and then father and daughter, Justin and Ruby Reynolds from Devon, found the first pieces of a second jawbone and another giant bone while searching for fossils on the beach at Blue Anchor, also in Somerset, in May 2020.

And now, a palaeontologist at the University of Manchester (UoM) Dr Dean Lomax, has identified the fossilised remains of the second gigantic jawbone that measures more than two metres long.

Experts have identified these bones as belonging to the jaws of a new species of enormous ichthyosaur – which is a type of prehistoric marine reptile – and astonishing estimations suggest the oceanic titan would have been more than 25-metres long.

Dr Lomax has been working together with Justin and Ruby Reynolds, along with Paul de la Salle and several family members, since the father-daughter duo first contacted them about their groundbreaking discovery in 2020.

A Manchester palaeontologist has unearthed bones of what may be the largest known marine reptile / Credit: UoM

“I was amazed by Justin and Ruby’s find,” Dr Lomax commented.

“In 2018, my team and Paul de la Salle studied and described Paul’s giant jawbone, and we had hoped that one day another would come to light.”

He explained that Justin and Ruby’s new specimen was “more complete and better preserved” than the first find, and that he “became very excited” at the chance to learn more following their discovery.

As mentioned, the Manchester-based research team, led by Dr Lomax, revealed that the jaw bones belong to a new species of giant ichthyosaur that would’ve been about the size of a blue whale, and they have called the new genus and species Ichthyotitan severnensis – which means ‘giant fish lizard of the Severn’.

The bones – which represent the very last of their kind – are around 202 million years old, and date back to the end of the Triassic Period in a time known as the Rhaetian.

During this time, the gigantic ichthyosaurs swam the seas while the dinosaurs walked on land.

The University of Manchester, where Dr Dean Lomax works as a palaeontologist / Credit: UoM

Ichthyotitan is not the world’s first giant ichthyosaur, but the discoveries by Paul, and Justin and Ruby, are said to be “unique among those known to science”, as they appear roughly 13 million years after their latest geologic relatives – including Shonisaurus sikanniensis from British Columbia in Canada, and Himalayasaurus tibetensis from Tibet in China.

Speaking on the confirmation of the bones’ identification this week, Dr Lomax said: “This research has been ongoing for almost eight years.

“It is quite remarkable to think that gigantic, blue whale-sized ichthyosaurs were swimming in the oceans around what was the UK during the Triassic Period.

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“These jawbones provide tantalising evidence that perhaps one day a complete skull or skeleton of one of these giants might be found.”

Featured Image – UoM

News

Northern Quarter favourite Pie and Ale has sadly closed down

Danny Jones Danny Jones Pie and Ale Manchester closed down

Beloved Northern Quarter eatery and pub Pie and Ale has sadly and quietly closed its doors this week in yet another gutting bit of news for the Manc hospitality sector.

Known for its legendary homemade pies, great selections of ales, craft beers and lagers, not to mention a great little pub when it comes to watching live sport, it’s long been considered an NQ institution.

Unfortunately, however, as confirmed by a sign posted in the window, Pie and Ale has now closed for business after more than a decade.

Safe to say, we’re absolutely gutted, as we’re sure everyone else is.

Credit: The Manc Eats

While no official announcement has been made on their social media as yet, which will no doubt receive love and sadness from its loyal following, the sign in the window simply reads: “Pie and Ale has unfortunately ceased trading. Apologies for any inconvenience.”

The local favourite which was always hailed for being great value for money – celebrated especially for its popular pie and a pint for under a tenner deal – also served up great nibbles and light bites as well as dessert specials.

Although the Lever Street spot previously shut down for a short spell back in 2018 due to what they labelled as “unforeseen circumstances” before reopening just two months later, this latest update looks pretty definitive.

Sister-site Bakerie also ceased trading back in April 2019, with husband and wife founders, Alyson Doocey and David Cook, admitting that all independents had been “feeling the squeeze”.

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While we have few other details at this stage, it does look like Pie and Ale has indeed closed down for the foreseeable future.

A mainstay on our list of the best pies in Manchester since day dot and just the latest in the list of losses in 2024 so far, they will be sorely missed.

We sincerely hope this is like last time and will keep our fingers crossed that we see the pie pros and expert pourers back in business at some point.

RIP to an NQ icon.

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Featured Images — The Manc Group

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