The webshop for furniture and other interior items Made.com is not accepting new orders for the time being. The survival of the British company has become uncertain now that potential buyers have dropped out of the web store. Made.com, which is also active in the Netherlands, has been struggling for some time with disappointing sales and high transport costs.
On Tuesday, the stock exchange-listed Made.com already reported that the cash reserves will quickly be exhausted if no buyer or financier comes forward. The company blames declining sales on high inflation in Europe, which is making consumers more cautious about large purchases. In addition, transport costs for furniture have risen sharply due to all the disruptions in international logistics as a result of the corona pandemic. There are also high fuel costs on top of that.
Made.com went public last year in London and was worth £775.3 million at the time, but the company’s ongoing problems have almost wiped out that stock market value.
Internet entrepreneur Brent Hoberman founded Made.com twelve years ago. His goal was to sell designer furniture at affordable prices, by selling directly to consumers without going through intermediaries and retailers. In Amsterdam, the company opened so-called pop-up stores, which mainly served as a showroom for furniture that was for sale online.
Watch our home and living videos here:
Free unlimited access to Showbytes? Which can!
Log in or create an account and don’t miss out on any of the stars.
#Unrest #webshop #Made.com #ordering #suddenly #longer
Leave a Reply