Online furniture business Made.com halts sales as it faces collapse with 650 workers on the line
- An online furniture business that sells sofas, beanbags and antique brass lamps closed its website yesterday and stopped taking new orders
- If the company doesn’t find a buyer or secure new funding before it runs out of cash, it will go into administration
- The beleaguered furniture chain was founded in 2010 by Lastminute.com founder Brent Hoberman and French businesswoman Chloe McIntosh
Made.com has suspended sales because it is on the verge of collapse.
The online furniture business, which sells sofas, beanbags and antique brass lamps, closed its website yesterday and stopped taking new orders.
If the company does not find a buyer or secure new financing before it runs out of cash, it will fall into administration.
Made.com has suspended sales because it is on the verge of collapse
The beleaguered furniture chain was founded in 2010 by Lastminute.com founder Brent Hoberman and French businesswoman Chloe McIntosh, with the support of entrepreneurs Ning Li and Julien Kaled.
Made.com’s mission was to make high-quality designer furniture and homeware accessible to everyone, and it was once credited with changing the way we shop for furniture.
After Made joined the stock market, it suffered the double whammy of supply chain chaos and falling demand as the cost of living rose.
The collapse has raised concerns about Made’s 650 staff who could lose their jobs as a result of the administration process. It has also caused concern among those with backlogs at the firm who may now not receive the furniture.
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