Little after a year after being valued at £775m, Made.com has put itself up for sale with investors valuing it at £17.5m.
The etailer says it has been hit by falling consumer confidence and a ‘increased need’ to sell the excess stock it built up at a discount.
It says after deciding it would be unable to raise capital from shareholders, it will look at a sale, a merger, outside investment or debt financing.
It will begin a consultation with head office staff as it looks to further cut costs.
Made’s share price dropped by 23% on the news.
Pictured is its share price since its floatation in June 2021.
