// Made.com close to administration as Next and Frasers Group eye business
// Made.com name is expected to be sold straight away in a cut-price deal
Next and Frasers Group are frontrunners to buy Made.com as the retailer is set to fall into administration triggering around 500 job losses.
The Made.com name is expected to be sold straight away in a cut-price deal.
The furniture retailer’s shares were suspended from the stock exchange and the company confirmed that administration was now on the cards.
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Made has been struggling for months and confirmed last week that it would file for administration after its efforts to find new backing failed.
Insolvency experts at PwC are lined up to handle the job and are expected to be formally appointed at a court hearing on Monday.
Next, which has a homewares business of its own, is reported to have offered about £2 million for the brand.
However, it faces competition from Mike Ashley’s Frasers Group, which has also been linked to the auction.
