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Made.com has announced that it has entered into non-disclosure agreements and begun discussions with a number of interested parties for the sale of the group.
The interested parties will be provided with additional information on the group and will be invited to put forward non-binding indicative proposals in mid-October.
The group will review these proposals and expects that a select number of parties will be invited to participate in a second phase to conclude as soon as possible.
Made.com said it will make interested parties aware that the current management plan for a stand-alone public company is expected to require aggregate funding between £45m-£70m over the next 18 months.
In its trading update for the six months ended 30 June 2022, Made.com announced it had initiated a formal sales process for the company and would consider possible job cuts to save costs.
The company added that it needed more funding to implement its management’s plan to achieve the group’s longer-term strategy of sustainable profitability, after further work with its advisors, as part of the ongoing strategic review and formal sale process.
