Furniture webshop Made.com in financial difficulties, webshop is closed
The ailing British furniture web shop Made.com can no longer place orders. According to the company’s website, this is a temporary measure.
Made.com has been around since 2010 and sells design products like chairs, lamps and cabinets at a relatively cheap price. They only did this online, although customers could view the furniture in showrooms. After placing an order, the company then delivers directly from the Chinese factories to the consumer.
The company made sales of around 430 million euros last year, but made a loss in the tens of millions. Made.com has a showroom in the Netherlands, in Amsterdam.
Big flight down
The furniture web shop went public in 2021, during the Corona period when people were spending a lot of money on things for their home. After the pandemic, demand fell while transportation costs rose.
Made.com stock then took a big nosedive. Last month, the company announced it would lay off more than a third of its workforce due to “unprecedented market conditions.”
The company was looking for new investors or buyers this month but announced yesterday that they had not been found.
Source: NOS
I’m Jamie Bowen, a dedicated and passionate news writer for 24 News Reporters. My specialty is covering the automotive industry, but I also enjoy writing about a wide range of other topics such as business and politics. I believe in providing my readers with accurate information while entertaining them with engaging content.
