Made.com enters next phase of sales process with interested parties

Made.com, the owner of fashion retailer Trouva, has published an update on its ongoing formal sales process, which it initially launched on September 23.

The homeware company said in a release that it has now entered into non-disclosure agreements and has begun discussions with “a number of interested parties” regarding its sale.

Participating parties will be provided with further information on the group and will be invited to put forward non-binding indicative proposals in the middle of October.

Made’s board of directors will then review these proposals, with it further expecting a select number of parties to be invited to participate in its second phase to conclude as soon as practicable.

The board added it would make interested parties aware of its current management plan for a stand-alone company, which is expected to require aggregate funding in the region of 45 to 70 million pounds over the course of the next 18 months.

The plan comes as the group looks to achieve a longer-term strategy of sustainable profitability and was deciphered following further work with its advisors as part of the ongoing process.

Made.com’s sale procedure comes just months after it acquired Trouva, with the retailer stating that it was facing a number of macroeconomic issues that pushed it into an overstocked position.