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.
ADVERTISEMENT
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.
ADVERTISEMENT
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.”
ADVERTISEMENT
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
News
Traders to move out of Manchester food hall as it pivots to ‘new chapter’
Daisy Jackson
Manchester food hall New Century will be closing its kitchens, it has announced, making way for a ‘new chapter’.
The New Century Kitchens are home to some top local food traders, including Parmogeddon’s Fricken concept, Wholesome Junkies, and Ply Pizza.
The food hall opened in 2022 as part of the iconic music venue’s rebirth, creating a modern mid-century space with six kitchens.
In the years since, it’s welcomed a rotation of amazing food offerings, including Hip Hop Chip Shop, Banh Vi, and Zumuku Sushi.
Now, New Century Kitchens has announced it will be ‘evolving’ to make live events part of the offering across the venue – not just upstairs in the main gig space.
That means that the traders currently based here will be moving out, though the venue has assured people that they have been supported as they take their next steps.
New Century said that music is in the building’s ‘DNA’ and this chapter will reflect that.
New Century Kitchens will close, with traders moving outNew Century is entering a ‘new chapter’
In a statement shared with The Manc, they said: “The ground floor at New Century is evolving. We are currently finalising plans for live events to become an even bigger part of our offering across the whole of the venue.
“As part of this evolution the current community of independent traders are moving onto exciting new chapters, and we have been working very closely with them to support all of these brilliant businesses in their next steps.
“Music is in the DNA of our iconic building and this new chapter will reflect that.
“New Century is a place for people to come together through entertainment and good hospitality and we’re looking forward to sharing more details soon.”
Police urgently appeal for footage after fatal stabbing in Moss Side
Emily Sergeant
Police have issued an urgent appeal for footage in their ongoing investigation into a fatal stabbing in Moss Side last week.
Detectives from Greater Manchester Police (GMP) are appealing for information – and in particular, mobile phone footage – as they continue to investigate the murder of 34-year-old father of three, Adrian Brown, who died following a stabbing in Moss Side last Friday (8 May).
Police were called to Raby Street in Moss Side at around 11pm last Friday to reports of a serious assault.
Mr Brown was found with stab wounds to the chest, and was rushed to hospital, but despite the best efforts of medical staff, he sadly died from his injuries.
An 18‑year‑old man was arrested on suspicion of murder the following day (Saturday 9 May) and remains in custody. A second man, aged 26, has also been arrested on suspicion of murder, while two men, aged 25 and 38, and a 26‑year‑old woman have been arrested on suspicion of assisting an offender.
With the police investigation now progressing at pace, officers are keen to hear from anyone who may have captured mobile phone footage at any point during the evening – particularly in or around the West Indian Sports and Social Club on Westwood Street.
Adrian had been attending an event at the club that evening, before at around 11pm, he was assaulted just outside the front entrance.
“There were around 200 people at the club that night, and we believe some of those present may have information that could help us understand what happened,” commented Detective Inspector Alex Wilkinson.
“This could include eyewitness accounts, or photos and videos taken throughout the evening.
“I appreciate that speaking to police can feel daunting, but anyone with footage can upload it anonymously through our dedicated Major Incident Public Portal.”
Anyone with information or footage that may assist the investigation is asked to contact GMP on 0161 856 2270 or 101, quoting log 4069 of 08/05/26, or uploading to the MIPP online here.
Alternatively, information can be passed on anonymously via Crimestoppers on 0800 555 111.
Emily Sergeant -
9th November 2022 
