// Made.com’s board has proposed formally winding the company up via a members voluntary liquidation
// Made.com stock is set to be auctioned off by John Pye to recover funds for creditors and out-of-pocket shoppers
Made.com has said its board has proposed formally winding down the business via a member’s voluntary liquidation.
The embattled online homeware and furniture retailer said this will enable company-appointed liquidators to asses its remaining assets pending completion of the administration.
Made.com plunged into administration in November after it was hit by consumers pulling back on big-ticket purchases amid soaring inflation and the cost-of-living crisis.
Quickly after, Next snapped up its brand, domain names and intellectual property for £3.4 million.
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The homewares retailer posted a loss before tax of £35.3 million for the six months to 30 June, versus £10.1m a year prior.
The business stopped taking orders last month after revealing that its attempts to secure a buyer had failed, which put it on a crash course for collapse.
Made is set to sell off its remaining sofas and tables, in a bid to recover funds for creditors.
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