Next Retailer Likely to Acquire Brand Name
- Made.com expected to enter administration this week
- Next reportedly the frontrunner to acquire Made brand name
- PwC to oversee sale of intellectual property
- Shares suspended from trading on London Stock Exchange last week
- Operating subsidiary appoints PwC as administrators
- Company’s ordinary shares expected to be cancelled and wound up
- Strategic review announced on 23 September with formal sale process
- Discussions with interested parties terminated due to missed deadlines
Made.com is expected to enter administration this week after failing to find a buyer, following the suspension of its shares from trading on the London Stock Exchange last week. Fashion retailer Next is reportedly the frontrunner to acquire the Made brand name, with PwC overseeing the sale of its intellectual property. The company’s operating subsidiary, Made.com Design Ltd (MDL), appointed Zelf Hussain, Peter David Dickens, and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP (PwC) as administrators. Made.com announced a strategic review on 23 September, including a formal sale process to sell the business. Discussions with interested parties were held, but terminated due to missed deadlines. The company temporarily suspended new customer orders on 26 October in light of MDL’s requirement for further funding and to preserve value for its creditors.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Made.com’s financial situation, the appointment of administrators, and the suspension of shares trading on the London Stock Exchange. It also mentions the potential acquisition by Next and the involvement of PwC in overseeing the sale of intellectual property. The article is not sensationalist or misleading, and there are no signs of personal bias or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about Made.com’s financial situation and the potential acquisition by Next, as well as the involvement of PwC in overseeing the sale of its intellectual property. It also mentions the suspension of shares trading and the cancellation of the listing. However, it lacks analysis or exploration of long-term trends or consequences for stakeholders.
Financial Relevance: Yes
Financial Markets Impacted: Made.com, Next, London Stock Exchange
Financial Rating Justification: The article discusses the potential acquisition of Made.com by Next and its impact on the company’s shares trading on the London Stock Exchange, as well as the appointment of administrators to oversee the sale of its intellectual property.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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