Made.com Group PLC (LSE:MADE) shares have been suspended and are expected to be cancelled as its operating arm has called in administrators from PricewaterhouseCoopers.
Having received proposals to acquire some or all of its business since announcing a strategic review on 23 September, the online furniture retailer said any such sale would now be carried out by the administrators.
Last Wednesday, the company suspended new orders after talks with potential suitors were ended as none were able to meet a designated timetable.
With the shares suspended from trading in London this morning, the company said the board expects its listing will be cancelled and “any residual value will be distributed to the company's shareholders and the company will be wound up”.
In August, the company was looking to raise around £50mln, but found no luck as it said stock market conditions were not supportive.