Made.com Group Plc Appointment of Administrators (7418F)
09 Noviembre 2022 - 1:00AM
UK Regulatory
TIDMMADE
RNS Number : 7418F
Made.com Group Plc
09 November 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART,
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
9 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Made.com Group Plc
("MADE" or the "Company")
Appointment of administrators by Made.com Design Ltd ("MDL")
On 31 October, the Board of MDL, MADE's operating subsidiary,
notified MADE that it had resolved to file notice of its intention
to appoint administrators.
Further to this, MDL has notified MADE that it has now appointed
Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of
PricewaterhouseCoopers LLP as administrators of MDL (the
"Administrators") on 8 November 2022.
Following their appointment, MDL acting by its administrators,
has entered into an agreement with Next Retail Limited to acquire
the brand, domain names and intellectual property of MDL. Other
assets remaining in the estate will be realised by the
administrators in due course and payments made to creditors in
accordance with the statutory priority.
The Company's ordinary shares were suspended from trading on the
London Stock Exchange's Main Market for listed securities on 1
November 2022. The Board currently expects that, in due course, the
listing of the Company's ordinary shares will be cancelled, any
residual value will be distributed to the Company's shareholders
and the Company will be wound up.
Statement by Susanne Given, Chair of MADE:
"Having run an extensive process to secure the future of the
business, we are deeply disappointed that we have reached this
point and how it will affect all our stakeholders, including
employees, customers, suppliers and shareholders. We appreciate and
deeply regret the frustration that MDL going into administration
will have caused for everyone.
I want to sincerely thank all our employees, customers,
suppliers and partners for your support throughout the past 12
years and especially during this difficult time where we have tried
so hard to find a workable solution for the Company and all its
stakeholders ."
Further announcements will be made in due course.
Detailed information is available here:
www.pwc.co.uk/madedesign
MDL creditors can contact the administration team via the
following channels:
Employees: uk_madedesign_employees@pwc.com
Suppliers: uk_madedesign_suppliers@pwc.com
Customers: uk_madedesign_creditors@pwc.com
Landlords: uk_madedesign_landlords@pwc.com
Other enquiries:
MADE
Nicola Thompson, Chief Executive Officer
Patrick Lewis, Chief Financial Officer
investor.relations@made.com
Brunswick Group
Craig Breheny
Diana Vaughton
made@brunswickgroup.com
+44 207 404 5959
PricewaterhouseCoopers LLP (Administrators of MDL)
Zelf Hussain
Rachael Wilkinson
Peter Dickens
+44 (0) 20 7583 5000
J.P. Morgan Cazenove (Corporate Broker)
Bill Hutchings
James Summer
+44 207 742 4000
Liberum Capital Limited (Corporate Broker)
Clayton Bush
John Fishley
+44 203 100 2000
The person responsible for making this announcement on behalf of
Made.com Group Plc is Laura Tyler, General Counsel and Company
Secretary (Interim).
LEI: 213800HTMSVKO71K6O71
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END
STRDZMGMNRMGZZM
(END) Dow Jones Newswires
November 09, 2022 02:00 ET (07:00 GMT)
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