Made’s strategic review is now moving towards the point where firm offers may be made for the business by the end of October. The pureplay furniture retailer, which invited offers as part of an ongoing review of its future, today says a number of initial proposals have now been put forward for the business. A selected group of those have been asked to put in firm offers by the end of the month, following due diligence.
Made says any party making a firm offer will need to have interim financing available at the same time. It also points out that there is still no certainty that any offers will be received.
Made launched its strategic review last month as it started to look at its options for the future in the light of rising inflation and falling consumer confidence. Since then it has said that the current management plan for the standalone public company would be likely to need extra funding of between £45m and £70m over the course of the next 18 months.
Digital native Made was founded in the UK in 2010 and now sells online in nine European markets and through seven showrooms, including flagships in London and Paris. It is ranked Top250 in RXUK Top500 research.