Millennials across the UK are really going through it
Written by Ellie Muir
Everyone knows a millennial with a green velvet sofa, and it’s probably from online furniture retailer Made.com. And if you haven’t heard the screams coming from millennial Twitter, then you wouldn’t know that the retailer is now facing potential closure.
It’s official: Made.com is expected go into administration on Monday or Tuesday this week after attempts to find a buyer failed.Around 500 staff are expected to lose their jobs, and thousands of customersare also facing uncertainty over whether they will receive a refund for outstanding orders.
The company, known for its textured sofas, rattan beds and stylish lighting, announced at the beginning of October that it was intalks with a number of interested parties, with a deadline of the end of the month. Unfortunately for the retailer, none of its potential buyerswere able to meet that date. As a result, Made.com has ended the rescue talks, putting the company at severe risk of closure. The website states: ‘Sorry, MADE is currently not taking any new orders. We appreciate your patience and we hope to start accepting orders again soon.’
As the retailer’s shares on the London Stock Exchange plummeted by nearly 90 percent, the internet (cough, millennials) are really divided over how good the retailer actually is. Where will you get that knock-off mustard-hued anglepoise lamp now? Gosh, or the gold coffee table? Some of its most loyal fans are clearly going into a period of mourning for the retailer, while others can only think of one thing: a sale. Others are actually saying that the store is wildly overpriced and the quality is no different to Argos or Habitat. Controversial.
Anyway, one thing that’s clear is that Made.com really managed to lure in the 26-to-40 demographic looking to create thatIG-worthy (and dare we say it, carbon-copy) home. But unfortunately perhaps not enough to survive as a business. Ouch.
- Ellie Muir Contributing writer
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