Suppliers

What has happened?

Like many retailers, but in particular those selling big-ticket products, the Company has been heavily impacted by significant decline in consumer spending from cost of living pressures, rising import costs and continuing supply chain pressures.

These challenges have adversely impacted the Company’s financial performance and, as a result, the availability of cash to fund working capital and operations has depleted over time. 

The Director’s have explored numerous options to try and turn the business around, as has been well documented in the press, including seeking new investment and refinancing options, and a sale of the business through a Formal Sales Process. 

However, despite their best efforts, a viable deal to secure the future of the business has not been reached. As such, and to protect value for the Company’s creditors as a whole, Rachael Wilkinson, Peter Dickens and Zelf Hussain were appointed as Joint Administrators of Made.com Design Ltd on 8 November 2022.

On appointment, the Joint Administrators completed a sale of the brand, website and intellectual property of The Company to Next Retail Limited.The Joint Administrators will now focus on achieving the best outcome for the creditors of the Company through realisation of the remaining assets. 

We appreciate these are difficult circumstances for all those in connection with the Company.

Should I continue to supply goods and services to the business?

The Company in administration is not continuing to trade, however if your supply is critical to the ongoing wind down of the business, a member of the administration team will be in touch with you to discuss any future supply of services. Your ongoing support is greatly appreciated and is critical to securing the maximum return for the creditors. Goods and services ordered by the Joint Administrators or their authorised representatives will be paid for by the administrator. 

Am I required to continue providing service or supplies?

The Joint Administrators may request that you continue to supply goods and services to the company during the administration and will provide assurance that these goods and services will be paid for. 

I am owed money. What notification will I receive?

The Joint Administrators will publish a report via the case website to all known creditors and members within one week of the appointments. This report is known as the Joint Administrators’ proposals and will outline steps taken by the administrators to date and the strategy going forwards.

The Joint Administrators are also required to provide a written update on the administrations to all known creditors every six months. This report will be published to the case website within one month of every six month anniversary or earlier if an administrator vacates office or an extension to the administration is granted.  

When will I get paid?

Payment for goods and services provided prior to the date of appointment will not be paid for as an expense of the administration estate. 

All outstanding amounts at the date of the Joint Administrators’ appointment rank as an unsecured claim in the administration. You can submit a claim into the estate for the amount you were owed prior to their appointment. If there are funds available, you may receive a dividend payment in due course, although at this time we cannot estimate what this will be. 

We will shortly be providing guidance on how to submit a claim via an online creditors portal.  Our preferred method for creditors to submit claims and supporting documents is via the Turnkey (IPS) online portal, as this is the most efficient and cost effective way for us to deal with your claim and also allows you to better track its status, so we recommend the use of the online portal for claim submission.  Your unique login details will be sent to you separately. If your claim includes VAT, you may be able to obtain VAT bad debt relief six months after your supply. 

I have goods on site. Can I get them back?

If you believe you have a Retention of Title claim over goods that you have supplied to the Company please complete a retention of title questionnaire and return it to us via email at uk_madedesign_rotsuppliers@pwc.com. 

Our appointment means that you can’t start or continue legal action, enforce security or repossess any goods held by the Company unless we agree or the court allows it. For all other supplier queries, please email uk_madedesign_suppliers@pwc.com