DOOM: Sofas

[PCTNN]

And they're bust.

Made.com furniture website on brink of collapse - BBC News

[SueEllen]

They have good design but the quality is extremely shoddy. I still buy from them but just minor things such as bedding, soft furnishing and in general nothing that costs more than 100 quid. Too big a risk.

Not for much longer.

[PCTNN]

No wonder they're in troubles. The quality of their product has gone downhill. I started buying from made.com in 2016 and the quality of the furniture was good but I've seen the quality deteriorate gradually through the years. Last year I bought a tv unit that arrived scratched, with a lot of sawdust and a few screws loose and with the thread damaged. Sent it back for another one, which was even worse than the first one. Got a refund and that was me done with furniture from made.com

They have good design but the quality is extremely shoddy. I still buy from them but just minor things such as bedding, soft furnishing and in general nothing that costs more than 100 quid. Too big a risk.

[AtW]

"Made.com close to collapse as rescue talks end without buyer

Furniture company’s shares plunge 90% as it says no potential buyers were able to meet deadline

Made.com has moved closer to collapsing into administration, after rescue talks to find a buyer for the struggling online furniture business failed.

The company, known for its fashionable homeware including velvet sofas, lighting and rattan furniture, announced at the start of October that it was in discussions with a number of interested parties. It had set a deadline for receiving firm offers of the end of the month.

The retailer said none of its potential buyers were able to meet the timetable, adding it was “no longer in receipt of funding proposals or possible offers for the issued and to be issued share capital of the company”.

As a result, Made.com ended the rescue talks and said it could not be certain that any offer would be made for the business, or that any offer or investment would be suitable."

https://www.theguardian.com/business...-without-buyer

[Zigenare]

I only ordered something from Made.com once.

It was a sofa and access was tight but doable. The sofa arrived in a box (who the hell puts a sofa in a box!). I hadn't anticipated that when measuring up. I told the delivery chaps the sofa would fit if they took it out of the box and removed the feet. They called for permission to do so and it was refused on the grounds that sofa might get damaged. So, delivery had to be refused and I ended up getting something from John Lewis who have eminently more practical delivery methods (such as wrapping rather than boxing sofas and delivering without the feet attached).

What about the fings what 'eld the candles?

You are "Fred" and I claim my £5!

[ladymuck]

I only ordered something from Made.com once.

It was a sofa and access was tight but doable. The sofa arrived in a box (who the hell puts a sofa in a box!). I hadn't anticipated that when measuring up. I told the delivery chaps the sofa would fit if they took it out of the box and removed the feet. They called for permission to do so and it was refused on the grounds that sofa might get damaged. So, delivery had to be refused and I ended up getting something from John Lewis who have eminently more practical delivery methods (such as wrapping rather than boxing sofas and delivering without the feet attached).

[edison]

Shame. We've had some stuff from them and we were very pleased with it

They create good designs and we've bought two sofas and a few other things from them, but their logistics systems are poor and aftersales customer service is hopeless. Doesn't surprise me they've hit trouble.

[northernladuk]

Shame. We've had some stuff from them and we were very pleased with it

[_V_]

You should be more concerned with other stocks than sofa companies.

https://www.macroaxis.com/invest/sto...o-fundamentals

Our Final Perspective On Adv Micro

Although many of the other players in the semiconductors industry are either recovering or due for a correction, Adv Micro may not be performing as strong as the other in terms of long-term growth potentials. To conclude, as of the 6th of October 2022, we believe that at this point, Adv Micro is very steady with very small probability of distress within the next 2 years. From a slightly different point of view, the entity appears to be undervalued. However, our current 90 days advice on the firm is Strong Sell.

Not wrong there mate!

[vetran]

“How a 'catastrophic year' cost Made.com £740m and left it fighting to survive

Online retailer was once a billion dollar idea before its 2021 float

The business debuted on the London Stock Exchange with a £775m price-tag in June 2021, less than the £1bn it shot for, and it has only been downhill from there.

In the short time since listing, Made.com has issued three profit warnings and lost both Chainieux as chief executive and its chief financial officer.

The business is now worth just £33m, similar to what it was valued at in 2012 when it had just 45 staff and was making £15.6m in annual revenues.

Ultimately, late last month Made.com said it was putting itself up for sale after failing to raise cash on the public markets. It is currently in talks with buyers, with bids expected later this month.

Last week it admitted it needed as much as £70m to survive for the next 18 months.

“It has been a pretty catastrophic year,” says David Reynolds, an analyst at Davy.

Some of the company’s problems have been out of its control. The cost-of-living crisis has caused spending on big ticket-items such as beds and sofas – Made.com’s stock in trade – to drop off dramatically across the board.

But company observers say there are also self-inflicted problems.

“In many ways, it’s a case study in how not to do an IPO,” says Reynolds. “I told Adrian Evans [then-CFO] a number of times that the golden rule for the finance chief of a publicly-listed company is that you under-promise and over-deliver.”

Evans, he says, did the opposite, spurred on by venture capitalists and private equity firms keen for big pay-days. “

https://www.telegraph.co.uk/business...hting-survive/

FFS - what kind of idiots bought into this fecking sofa IPO at valuation more than 12 months profits?

same ones that bought a sofa at DFS and waited 6 months?

[AtW]

“How a 'catastrophic year' cost Made.com £740m and left it fighting to survive

Online retailer was once a billion dollar idea before its 2021 float

The business debuted on the London Stock Exchange with a £775m price-tag in June 2021, less than the £1bn it shot for, and it has only been downhill from there.

In the short time since listing, Made.com has issued three profit warnings and lost both Chainieux as chief executive and its chief financial officer.

The business is now worth just £33m, similar to what it was valued at in 2012 when it had just 45 staff and was making £15.6m in annual revenues.

Ultimately, late last month Made.com said it was putting itself up for sale after failing to raise cash on the public markets. It is currently in talks with buyers, with bids expected later this month.

Last week it admitted it needed as much as £70m to survive for the next 18 months.

“It has been a pretty catastrophic year,” says David Reynolds, an analyst at Davy.

Some of the company’s problems have been out of its control. The cost-of-living crisis has caused spending on big ticket-items such as beds and sofas – Made.com’s stock in trade – to drop off dramatically across the board.

But company observers say there are also self-inflicted problems.

“In many ways, it’s a case study in how not to do an IPO,” says Reynolds. “I told Adrian Evans [then-CFO] a number of times that the golden rule for the finance chief of a publicly-listed company is that you under-promise and over-deliver.”

Evans, he says, did the opposite, spurred on by venture capitalists and private equity firms keen for big pay-days. “

https://www.telegraph.co.uk/business...hting-survive/

FFS - what kind of idiots bought into this fecking sofa IPO at valuation more than 12 months profits?