Made.com begins talks over sale
Online furniture retailer Made has begun talks with a number of interested parties regarding a sale of the business.
In a statement, Made.com said the potential suitors will be provided with additional information and invited to submit non-binding proposals in the middle of October. Once these have been reviewed, Made will invite a number of parties to participate in a second phase of the process which will be concluded “as soon as practicable thereafter”.
Further to statements in Made’s interim results for the six months to 30 June regarding the funding that would be required to achieve its long-term strategy of sustainable profitability, Made also said that it will make the interested parties aware that the current management plan for a standalone public company is expected to require aggregate funding in the region of £45 million to £70 million over the course of the next 18 months.
The company said the current discussions could be altered or terminated at any time and that there is no certainty that an offer will be made.
