Beleagured online furniture retailer Made.com has put itself up for sale following a period of falling consumer demand despite heavy discounting, whilst absorbing rapidly rising costs.
It has now set a deadline of mid-October for expressions of interest and is making bidders aware that the business will need an injection of between £45m and £70m over the next 18 months for it to be able to operate as a standalone public company.
Advisors from PwC are supporting the sale process whilst the business works to contains its costs.
Made.com has some 700 staff with offices in London, Paris, Amsterdam, Berlin as well as China and Vietnam. It has withdrawn its trading guidance for the current fiunancial year and it has suggested that it is poised to make job cuts.
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