Made.com has begun discussions with a number of interested parties as part of its formal sale process.
The embattled furniture retailer said it has entered into non-disclosure agreements with prospective buyers, which will now be provided with additional information about the group and invited to put forward non-binding proposals in the middle of October.
From those, Made.com expects to choose a number of parties to move forward to a second stage.
The retailer added that it will make those parties aware that if it is to proceed with current management strategies, it will require “aggregate funding in the region of £45-70m over the course of the next 18 months”.
Made.com also urged any interested parties who have not yet made themselves known to contact PwC “without delay”.
The retailer added in a statement that: “Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be.”
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