MADE makes positive progress on sale; invites potential firm offers

Online furniture retailer has confirmed it has made positive progress on its formal sale process after a number of non-binding indicative proposals.

Having reviewed these Proposals, MADE has invited a select number of parties to progress towards firm offers by the end of October, following a due diligence process.

In a statement, MADE said: “The Proposals provide a range of different transaction structures, including possible offers for the issued and to be issued share capital of the Company.

“Based on the working capital requirements of the Group, any firm offer would require interim financing to be put in place at the time that firm offers are expected, which the parties involved in the process are aware of.

“Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be. The Board will continue to update shareholders further as appropriate.”

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