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Made, which employs around 600 people, said it will sell its brand, websites and intellectual property to the clothes retailer.
On Tuesday, Made’s operating subsidiary, MDL, was forced to appoint administrators from specialist firm PwC who immediately tied up the deal with Next.Made chairwoman 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.
The writing had been on the wall for several days after Made last month abandoned hopes of finding a buyer to save it and inject the cash it needed to stay afloat.
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