Made creditors to get less than 2%

Suppliers to Made.com and its customers will receive less than 2% of what they are owed.

According to administrator PwC, the failed etailer has debts of £187m but no more than 1.6% of that will be returned to creditors, before expenses. 

Employees and HMRC, which is owed £3.57m, are expected to be paid in full. Made’s main lender, Silicon Valley Bank, is likely to recover nearly all the £3.8m it is owed.

Other major creditors include Google, which is owned about £1.7m and Facebook, which is owned £1.4m. 

About 12,000 shoppers have outstanding orders and PwC previously told them if their order had not been received by 25 November it would not be delivered. 

About 4,500 items are expected to be delivered.

PwC says there is £14.5m of stock in warehouses in the UK and Antwerp – the operator of which is owned £1.8m – or in transit to the UK. This will be sold by auctioneer John Pye.

Madesofa

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