Trouva owner Made.com suspends shares as it falls into administration

Made.com, the furniture group which recently acquired fashion retailer Trouva, has announced its intention to appoint administrators after discussions with various parties on a potential takeover missed its deadline.

In a regulatory filing to its shareholders, the British company said that its board had made the decision to temporarily suspend new customer orders and its ordinary shares, which are listed on the London Stock Exchange.

It noted that the listing of its shares is expected to be cancelled and any residual value is to be distributed among the company’s shareholders.

Made.com initially announced its intention to put itself up for sale on September 23, after a slew of supply chain issues and a negatively impacted consumer market left it in an overstocked position.

As it underwent its formal sales process, the company announced that a select number of interested unnamed parties had been invited to work with the firm towards a potential offer by the end of October.

However, in its release, Made.com said all of its participants were unable to meet the necessary timetable, resulting in the termination of the discussions.

Administrators from PricewaterhouseCoopers will be leading Made Design Limited, the owner of Made.com, through the ongoing process.