ANP
News from the NOS•
Customers are no longer able to place orders with the struggling British furniture online store Made.com. According to the company’s website, this is a temporary measure.
Made.com has been around since 2010 and sells designer products such as chairs, lamps and cabinets at a relatively low price. They only did it online, although customers could come and see the furniture in the showrooms. After an order, the company delivers directly from the Chinese factories to the consumer.
The company achieved a turnover of around 430 million euros last year, but recorded a loss of tens of millions of euros. Made.com has a showroom in the Netherlands, in Amsterdam.
Great downward flight
The online furniture store went public in 2021, back in the days of the crown when people were spending a lot of money on things for their home. After the pandemic, demand decreased, while transportation costs increased.
Shares of Made.com therefore fell sharply. Last month, the company announced it would lay off more than a third of its staff due to “unprecedented market conditions”.
The company was looking for new investors or buyers this month, but yesterday announced they had not been found.
