Around 400 jobs lost at Made.com after furniture firm collapses

Made, which employed 573 people, said its brand, websites and intellectual property have been bought by fashion rival Next following the insolvency.

However, it said the Next deal does not include staff.

Administrators from advisory firm PwC have now confirmed the move will result in 320 redundancies, while a further 79 employees who had resigned and were working their notice have also been forced to leave the business immediately.

Made chief executive Nicola Thompson said: “I would like to sincerely apologise to everyone – customers, employees, supplier partners, shareholders and all other stakeholders – impacted as a result of the business going into administration.

“Over the past months we have fought tooth and nail to rapidly re-size the cost base, re-engineer the sourcing and stock model, and try every possible avenue to raise fresh financing and avoid this outcome.”

Zelf Hussain, joint administrator and partner at PwC, said: “It is with real regret that redundancies will need to be made.

“We would like to thank all the employees for their hard work.

“We will continue to support those affected at this difficult time, including assisting the HR team’s efforts to secure staff new roles.”

Administrators added that a “small number” of workers have been kept on by the company to ensure an orderly closure.

Made had already halted new orders but had previously said it was seeking to fulfil all previous orders.