Next has bought of Made.com for £3.4m after the online furniture retailer crashed into administration.
Susanne Given, chairman of Made, said: “Having run an extensive process to secure the future of the business, we are deeply disappointed that we have reached this point and how it will affect all our stakeholders, including employees, customers, suppliers and shareholders.
“We appreciate and deeply regret the frustration that [Made.com] going into administration will have caused for everyone.”
AJ Bell’s Russ Mould said: “As had been widely speculated Next is buying the brand, website, and IP of failed furniture retailer Made.com as it enters administration.
“The deal shows that there was nothing wrong with the proposition as such, just the way the business was run.
“As Made.com CEO Nicola Thompson observed in a candid statement that the company could not survive in a world where there wasn’t stable demand, low inflation, and a cost-efficient global supply chain.
“Next has the scale, experience and retail savvy to adapt to changing economic circumstances and it has done so successfully in the past, suggesting it can turn Made.com into a successful and lucrative brand.”
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