23 July 2024, 21:33
By Furniture News Jan 03, 2023

Made board confirms liquidation plan

On 22nd December, six weeks after administrators were appointed to Made.com Design Ltd, Made's board proposed that the company be placed into Members' Voluntary Liquidation, to enable liquidators to realise its remaining assets pending completion of the administration, and for the company to save the ongoing costs of a listed company in this period. 

As planned, any residual value was to then be distributed to shareholders, and the company wound up. A general meeting will be held on 16th January to approve the proposal, and shareholders have been encouraged to vote on the resolutions in advance.

On 31st October, Made resolved to file notice of its intention to appoint administrators, before appointing Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP for the task. Made.com Design Ltd (MDL) then entered into an agreement with Next Retail to sell the brand, domain names and intellectual property for £3.4m.

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