British online furniture retailer Group (MADE) has decided to terminate the formal sale process of the business after a rescue deal failed.

The announcement comes after the company ended talks with potential buyers earlier this week, as they were unable to meet the necessary timetable.

On 26 October, MADE said its operating subsidiary Made Design (MDL) had temporarily stopped taking orders from customers.

In a statement, the company said: “As announced on 25 October, the company is no longer in receipt of any possible offers for the issued and to be issued share capital of the company.

“Having considered the nature of ongoing discussions with interested parties as part of the company’s strategic review process, the board has concluded that there is no reasonable prospect that an offer for the issued and to be issued share capital of the company will be forthcoming and has accordingly decided to terminate the formal sales process under the Takeover Code.

“Accordingly, the company is no longer in an offer period.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The board of MADE will continue to look to preserve value for its creditors and shareholders as part of the ongoing strategic review and a further update will be made as and when appropriate.”

Last month, announced that it was considering a potential sale of the group to strengthen its balance sheet.

The company said a formal sale process was one of the options being explored by its Board of Directors as part of a strategic review.

Founded in 2010, claims to be a leading digitally native lifestyle brand in home furnishing, with more than 8,000 active stock-keeping units in its catalogue as of 30 June this year.

The company distributes products across the UK, Germany, Switzerland, Austria, France, Belgium, Spain, Ireland and the Netherlands through its e-commerce platform.

It also operates a network of seven showrooms across Europe.