Made.com speedrunning bankruptcy. IPO to bust in around 16 months.
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This is wild! 16 months! We’re not even deep in this recession yet.
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Nicola Thompson CEO said: “There is no escaping the tough trading environment at the moment.”
Well duh! They want a 70 million investment which is looking extremely unlikey that anyone will come and save them.
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They have a huge balance sheet problem, with super high inventories (Over £70m).
What about that unpleasant gentleman who sells sweat shop trainers and Sports Direct mugs?
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Too late now.
Bbc reporting orders being stopped, and firm collapsing
He can buy the company from the administrator later in the process
They do say the stock market bottoms before the economy does.
It feels like the IPO was only yesterday. Hopefully, not too many Freetraders have been caught up in this. 
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Bbc reporting shares are suspended
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The Board currently expects that, in due course, the listing of the Company’s ordinary shares will be cancelled, any residual value will be distributed to the Company’s shareholders and the Company will be wound up.
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Looks like it’s all over for Made… I sold my small holding of 1,187 shares 10th October for £0.072241 per share. My buy in was £0.1098 per share.
That’s got to hurt. I feel your pain.
You always win some and lose some.
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I really liked the company and was looking forward to investing once the shares became available on Freetrade. I have a superb Sofa and Outdoor Table and chairs from Made. Such a shame they couldn’t keep things going…
No bail out and their not offering refunds at the moment for unfulfilled orders. Sad times for shareholders and customers.
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What about him? Is there some sort of link i can’t see?
Does he buy furniture firms?
I bought procook at its IPO. Pots and pans did fantastically well during covid But at the end of the day pots and pans are consumer discretionary not consumer staples. It didn’t live up to expectations once inflation started to bite. Down 76% from IPO price (spent £1600). Profits comparable with precovid but less than expected hence that severe kicking. At the end of the day decent profits, CEO buying shares but the market won’t forgive quickly any company that lets them down that close to there IPO. To cheap now to sell.
Not surprising ….