Home furnishings retailer MADE.com Group PLC is set to close down completely after proposing a members’ voluntary liquidation ahead of its annual general meeting in mid-January.
The proposal would see MADE’s assets and proceeds, if any, distributed among creditors and shareholders.
MADE shares were suspended on 1 November, with the company formally entering administration a week later.
Next PLC (LSE:NXT) bought the brand name, the website and intellectual property but nothing else.
MADE “benefitted from a pandemic DIY boom,” but this has since faded, says Interactive Investor’s Victoria Scholar.
It has subsequently been left with “problems with the global supply chain that negatively impacted delivery times and the cost-of-living crisis,” she added.