Negotiations between Made.com and potential buyers have ended, with the etailer saying none of them were able to make an offer by the end of the month.
On 17 October Made said it had invited would-be buyers to begin talks with a deadline of the end of October. With these talks at an end ‘the company is no longer in receipt of funding proposals or possible offers.’
Shareholders were warned that administration could happen. ‘The board is considering the position and a further announcement will be made in due course. If further funding cannot be raised, or a firm offer for the company is not received before the company’s cash reserves are fully depleted, the board will take the appropriate steps to preserve value for creditors. There can be no certainty that the terms of any offer or investment received will be suitable.’
It added it will look at suspending trading in its shares.
UPDATE: Since that announcement Made has stopped taking consumer orders. ‘We hope to be able to restart accepting orders again soon,’ says its website..
