// Made.com will appoint PWC as administrators
// The retailer’s attempts to secure a sale to boost funding collapsed last week
Made.com has filed its intention to appoint administrators and suspended its shares after it was able to secure a sale of the business.
The furniture specialist will appoint Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PWC as administrators.
The retailer had kicked off a process to find a buyer following an unsuccessful fundraising round in September, however, it revealed on 25 October that talks with interested parties had collapsed as none were able to meet its timetable of submitting a bid by the end of October.
It stopped taking new customer orders the next day.
Subscribe to Retail Gazette to get breaking news in your inbox
Sign up here to get the latest breaking news straight into your inbox as soon as it happens
Made.com revealed it had received proposals from interested parties to acquire certain or substantial parts of its trade, assets and brands.
However, any sale will now be effected by PWC although Made.com said “there can be no certainty that any such sale will proceed”.
The retailer’s shares were suspended from trading on the London Stock Exchange this morning and the board expects those shares will be cancelled, with any residual value distributed to shareholders before the company is wound up.
Click here to sign up to Retail Gazette‘s free daily email newsletter
