by Sarah Young and Pushkala Aripaka
LONDON (Reuters) – British online furniture retailer Made.com announced on Tuesday that it was placed in administration with a view to being liquidated, due in part to a drop in demand linked to inflation.
The designer furniture retailer, popular with consumers in Britain, but also in France and Germany, said in a statement that the company’s ordinary shares had been suspended from the London Stock Exchange at the request of the board of directors. .
The company created by Li Ning and Brent Hoberman had been listed on the stock exchange in June 2021.
Made.com, which benefited from increased online shopping during the COVID-19 pandemic, faced supply chain issues, supply chain disruptions (furniture was made in Asia) , but also to the cost of living crisis in the United Kingdom.
The group had stopped taking orders last week and announced that its attempts to find a buyer had failed.
Made.com’s stock has lost 99.6% of its value since January.
(Reporting Sarah Young in London and Pushkala Aripaka in Bangalore; French version Alizée Degorce, editing by Sophie Louet)
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