30,733 customers had paid £13.8million in deposits, over £400 each on average
// Tens of thousands of Made.com customers will be left out of pocket by a total of nearly £12m
// Shoppers paid £13.7m in deposits on large items such as sofas at the furniture retailer but less than £1.9m of this has been returned into customers’ pockets
More than 30,000 Made.com shoppers are collectively owed almost £12m they will not get back, according to the latest report by administrators to the collapsed furniture seller.
Over 300 people were made redundant when the London-listed retailer went into administration in November, hit by consumers pulling back on big-ticket purchases amid soaring inflation and the cost-of-living crisis.
Nearly all 500 employed at the time are expected to lose their jobs and a recent report by PwC administrators has revealed that tens of thousands of shoppers will not see funds repaid.
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Some £13.7m was paid in deposits on big-ticket items such as sofas by shoppers, documents filed with Companies House and first reported on by The Guardian have revealed.
Less than £1.9m of this has been returned into customers’ pockets via card charge-backs through credit card providers and administrators admitted there will not be enough cash to repay a £11.9m total sum owed to shoppers.
While Made.com’s £19m stock inventory is set to be sold via Auction house John Pye & Sons, it is anticipated to garner less than £2m.
Next snapped up the brand, domain names and intellectual property of Made.com for £3.4m in a pre-pack administration earlier this year.
At the time, Made.com chief executive Nicola Thompson said: “I would like to sincerely apologise to everyone – customers, employees, supplier partners, shareholders and all other stakeholders – impacted as a result of the business going into administration.
“Over the past months we have fought tooth and nail to rapidly re-size the cost base, re-engineer the sourcing and stock model, and try every possible avenue to raise fresh financing and avoid this outcome.”
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