THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Made.com considers job cuts and potential company sale

Made.com is to conduct a strategic review of its business as it looks to reduce costs in the face of a decline in consumer spending. The… View Article

HOME & DIY

Made.com considers job cuts and potential company sale

Made.com is to conduct a strategic review of its business as it looks to reduce costs in the face of a decline in consumer spending.

The furniture retailer said the options available could include job cuts and even a sale of the business.

The new follows reports by the Financial Times that Made could cut up to 35% of its workforce.

Made said it is currently facing two major headwinds as a result of a deterioration the global economic conditions in the last 15 months. These include a decline in discretionary consumer spending and an increased need to sell goods at a discount which has impacted gross margin.

The challenging market conditions have also made it more difficult for the retailer to acquire new customers at financially attractive rates.

Since the beginning of 2022, Made has taken several steps to manage its cost base and cash flow but is now planning to implement additional cost reductions, including a strategic headcount review, within the next few weeks. It is also considering a potential sale of the business and has hired PwC to help with the process. While a number of discussions have taken place with interested parties, Made said it has not received any approaches, 

Another option under consideration is a strategic investment in the company.

Nicola Thompson, chief executive of Made, said: “Made is not alone in being hit by problems in the supply chain and the cost-of-living squeeze but we are taking actions to ensure our continued success, supported by our strong brand, an excellent product range and a large and loyal customer basis in various markets.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >