is on the brink of collapse after being unable to find a buyer or the money to stay afloat is on the brink of collapse after being unable to find a buyer or the money to stay afloat.

The troubled online furniture retailer said it would “take appropriate measures” to protect creditors amid speculation it could fall into receivership.

Made tumbled 93.1 per cent, or 6.4p, to 0.5p, and warned it could suspend trading on the London Stock Exchange.

Troubled online furniture retailer has said it will “take appropriate action” to protect creditors amid speculation it could go into administration

A restructuring expert told the Mail there was “no doubt” the business was being run by advisers and was on the verge of administration.

The group went public last year in a massive IPO, selling shares at 200p apiece, valuing them at £775m.

But it put up its “for sale” sign last month after being hit by rising cost of living and supply chain chaos.

The company was left selling the stock at a discount – hitting profitability – and struggling to attract customers.

Last week, Made said it was in talks with buyers about a rescue deal. The firm has given bidders until the end of the month to submit “firm offers” but has warned all potential buyers that it will need between £45m and £70m over the next year and a half to survive.

And yesterday, Made said that all potential buyers had backed out because they would not be able to make offers by the required deadline. The company said it is “no longer” receiving any funding applications or offers.

A source familiar with the company said the apparent collapse was the result of mismanagement after the company was listed.

Before sailing, he operated on a just-in-time model, buying inventory only to fulfill orders.

But much of the proceeds from the IPO were invested in stocks – the excess of which contributed to its downfall.

Clive Black, retail analyst at Shore Capital, said: “We have experienced a last-chance sedan.

“It’s a rather unfortunate and uninformative stock story that was hollow and pointless.”