The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good God Yuri.
Not like you to give out a positive post.
Ohhh sorry you didn't.
Even though you are correct, I don't think you have ever posted on MADE but today you decided to. Well done bottomfeeder, you are a hateful man.
You don't feel empathy for the peple that may of been caught out here, you are straight in with your vile commenting.
On a quick google - balance sheet from report (June-2022) shows equity of 34.8 £m and asset value on books 156.3 £m
Market capitalization at suspension price: 2.06 £m
Administration costs might easily run up into 5 £m
Last period operating loss - 35 £m
(naively/optimistically we can assume the same throughout fire-sale time)
There will be material revaluation of assets down (especially considering distressed sale situation under these tough market conditions), less liquid or specialized assets - higher discount.
I would write down off the equity (35m) another 20 £m as operating loss, 25% off assets (although prone more towards -35% despite high cash fraction - inventories as part of current assets normally ending up cheap at bulk, bye-bye goodwill, not sure what they have under "other assets" category but property/plant/equipment section gets the hit too) leaving it with -40 £m discount, with admin fees it is ending at -65 £m from 35 £m equity - leaving with -30 £m hole hit to creditors. Generally it rather looks like there's nothing left for shareholders to salvage.
Well, some people made money here. Those that sold stakes at IPO when MADE was a £700m company, just 16 months ago. The fact that current management had little skin in the game was, on reflection, another red flag which I ignored.
Lost £2k. Win some lose some. Feel bad for the LTH here. Hope u recover loses elsewhere. Best of luck all wherever u go
Rest assured there will be little or no residual value remaining. The administrators will make sure to make enough costs to take anything remaining. Personal investors should expect zero.
Hope there were not too many PI's left holding the baby as you were warned repeatedly to get out with what you could take.
DYOR
Well, I hope no one lost too much here and it seems my sleepless night over my holding here paid dividends in the end. It was always a binary result as far as I was concerned and here it is.
Interesting however the talk of residual value going to shareholders - never known that to happen or indeed for it to be mentioned in this way.
Be interesting to see who buys up the name. I suspect that it will be one of the 'preferred bidders', whoever they were. But yes, Frasers would be my bet.
Perhaps The Cotswold Furniture Co.
GLA
What does that mean? Any residual value? Thanks
was gambling as there was not any value left for shareholders.
Sorry I missed the bit about the residual left over to be given to shareholders.
Very rare to see that but it maybe a little something back.
That must have been why share holders interests were mentioned in a number of the final RNSs
its been on the cards for a while.
Oh well it stops anyone else losing anymore money.
Utter disgrace and that CEO should never be allowed near another company again... she was so out of her depth.
Sorry to all who lost money, including myself but lessons learnt I hope. We won't get a penny back so better to leave that discussion alone
This will be bought out of admin, probably today by DFS or Frasers I have no doubt.
Expect news headlines by 5pm stating exactly that
It should have been - multiple investors but it's now obvious the burn and the lack of credit facilities meant they were distressed sellers. Simply put, any buyer probably looked at the books and ran a mile - not least due to the short term funding requirements. Trade buyers can now pick the bones out of administration. You look back to the acquisition of Trouva this year and wonder what the heck were they thinking burning through cash but buying another business....
Thought it was positive for those invested but now RNS appointing administrators.
So, they did suspend pretty much after the Oct 31st deadline they set in the FSP. They should, frankly, have mentioned in the FSP that the deadline was critical to ongoing operations.
Sorry to all that have lost out due to this shambles. The leadership team of this company should take a long hard look at themselves and what they've done here.
There you go!
I sold with zero balance luckily, that was well dodgy. AIM lately is a very, very dodgy place. AIM casino, where companies lie throw rns's and get away with it with zero problems.
HeresHopin
Yes, I definitely got caught out on this one. I thought it had potential and it would be snapped up.
Tbh i was invested for 6k then traded it upto 10K when it was at 8p, I went to the gym at 3.30pm on the 25th, came out at 5.00pm down 9.5k, wow Expensive gym session.
I still think the RNS stank. Worded awlfully and why they just binned the offers because of the time frame i don't know. I suspect there is a little more to it. I'm sure we will see in the near future.
Agreed Joules, I have £700 worth od shares, down £10K, I would be more upset and bitter if I had let myselft sell out amd a snippet of news comes out stating a late buyer.
I'm marking this down as a £10K loss, if something changes then so be it, I might get a little back.
I hope you didn't loose too much Monet.
Goodbye
Good luck to whoever has bought my final shares!
This has to be one of the dodgiest day trade shares out there at the moment
Only 119 trades all day even at the 0.5p region
It can go in to administration any moment as has been reported and basically said in the RNS
They are not taking orders so no chance of money coming in although who would risk purchasing now off Made.com
If you buy for 0.52p straight away your losing 20% straight away thrown in for your troubles
Must be Google a few others saying made.com integrated with another company link like wood furniture and Cotswold company. All looks the same.
I just created another search, above made.com are heals furniture similar layout and sofas. Then did again and also up came Dwell furniture. I thought perhaps they were transferring things but tbh I had no idea of competition, may not have the brand name but these other uk online- companies probably plodding along.
Joules is also steadily climbing on no news. up to 10p. Market is assuming they have something because the final curtain hasn't closed.