Made.com to enter administration with Next as top bidder
Online furniture retailer Made.com is expected to go into administration tomorrow after failing to secure a buyer.
The news will leave around 500 employees jobless and thousands of customers in the lurch over whether they will receive refunds for outstanding orders.
Administrators from PwC will oversee a sale of intellectual property associated with Made.com after it officially enters administration.
Next is being touted as the frontrunner to buy the business, with reports suggesting that retailer has bid around £2 million for the website, brand and other assets.
Frasers Group is also rumoured to be in the running, having snapped up several struggling businesses this year including I Saw It First, Missguided and Studio Retail.