'close to collapse' as it stops taking furniture orders | The Sun

MADE.COM is "close to collapse" as the furniture store closes its shop and online store for new orders.

Rescue talks to find a potential buyer have collapsed after the furniture retailer put itself up for sale last month.

Customers can no longer order furniture on the website.

Instead, visitors are shown a single web page which reads "Sit tight, we'll be back soon.

"We're making some important updates to improve your shopping experience."

It comes after put itself up for sale last month following a slump in value after going public last June.


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According to The Times, the company now needs £70million to continue operating as a standalone business.

But, the British furniture retailer said on Tuesday that talks with a number of interested parties for a potential sale of the company have been terminated after they were unable to meet the timetable.

The company added that it is no longer in receipt of funding proposals or any possible offers for a potential sale.

It remains unclear as to whether recent customer orders will be fulfilled.

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Customers will need to get in touch on the company's website, as we've noted that the retailer's phone lines are redirecting customers here.

In a statement, said: "The board is considering the position and a further announcement will be made in due course.

"If further funding cannot be raised, or a firm offer for the company is not received before the company’s cash reserves are fully depleted, the board will take the appropriate steps to preserve value for creditors.

"There can be no certainty that the terms of any offer or investment received will be suitable."

The news comes after several major retailers collapsed in recent years.

Corner shop chain McColl's went bust back in May 2022 leaving 16,000 out of a job and 1,100 stores empty.

Department store, Debenhams went bust back in April 2020 – amove which left 22,000 out of a job.

What are my refund rights?

According to Citizen Advice, if you bought an item from a shop before it closed down, you do not have an automatic right to a refund.

But if you ordered an item and it never arrived there are a number of ways to claw your money back.

Customers should firstly try and get in touch with the company or its appointed administrators and ask for the item purchased or a full cash refund.

If you can't get hold of the company or they fail to respond to your request for a refund, there are still ways to get your money back.

If you paid for the item using a credit card, you'll be covered by Section 75 of the Consumer Credit Act.

This means that if you pay for a big purchase on your credit card and something happens – like the goods aren't delivered or the shop goes bust – your card provider is just as responsible as the retailer to refund you.

To make a claim, contact your credit card provider – your first port of call should be its customer services phone number – and tell them you want to make a claim under Section 75.

It should then send you a claim form which you can fill-in and your provider will use to process your application.

Your card firm might ask you to provide evidence such as a receipt or a report verifying that the item is faulty.

If you didn't pay for the item with a credit card – don't panic. If you paid with a debit card you'll be covered by chargeback rules.

Chargeback can be used to reclaim cash for goods and services you don't receive that have been been paid for by debit card, or by credit card for purchases under £100.

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Claims must be made within 120 days of the transaction and to start a chargeback, you need to contact your card provider.

If you paid for an item using a buy now, pay later provider, you'll need to contact them first to check if they have a process for you to reclaim the cash.

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