Clothing and homeware retailer Next has agreed to buy Made.com out of administration.
The collapsed online furniture retailer said on Wednesday that administrator PricewaterhouseCoopers has entered into an agreement with Next to buy its brand, domain names and intellectual property.
Other remaining assets will be realised by the administrators in due course and payments made to creditors in accordance with the statutory priority, it said.
Made.com chair Susanne Given said: “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.”
