Made.com Design Ltd – administration

Made.com Design Ltd, a London-based e-commerce company which designs and sells furniture and home accessories online, filed a notice of intention to appoint administrators on 1 November. Its shares have also been suspended from trading on the London Stock Exchange. The company thrived as people decorated their homes during the pandemic. However, supply chain problems, a recent decline in the demand for furniture and the cost of living crisis have caused financial difficulties for the company. The business employs 700 people, but in September announced that it was in the process of making more than a third of staff redundant. It sought a buyer for its business over the month of October, but recently announced that talks with interested parties had fallen through as none were unable to meet its deadline of submitting a bid by the end of October. Zelf Hussain, Peter Dickens and Rachael Wilkinson of PwC will be appointed as Joint Administrators. Silicon Valley Bank has four registered charges against the company.