Customers face £12m of losses at Made.com… and up to 30,000 could be affected, report shows 

More than 30,000 customers of collapsed furniture retailer Made.com face losing £11.9million in deposits on purchases.

Shoppers could lose hundreds of pounds on average, a report by administrators PwC shows.

Made.com went bust in November and its brand, website and customer database was bought by Next for £3.4million.

That leaves a big shortfall as the administrators sift through assets to try to recover what they can.

More than 30,000 customers of collapsed furniture retailer Made.com face losing £11.9million in deposits on purchases. Pictured, Made.com’s London headquarters 

Unsecured creditors such as customers and suppliers rank behind lenders, employees and HM Revenue and Customs in the queue.

The report showed that 30,733 customers had paid £13.8million in deposits, over £400 each on average. Of that, just under £1.9million has been recouped by customers through card charge-backs – where credit card providers refund borrowers when purchases go wrong.

The administrators’ report filed at Companies House highlights the difficulty in extracting much more from the ashes of a company once valued at £775million.

A fire sale of stock valued at £18.8million is expected to fetch about £1.8million.

Previously, the administrators have estimated that unsecured creditors will receive no more than 1.6p for every pound they are owed.

This was the message on Made.com on the firm’s website when it had stopped taking orders last year

The collapse of Made.com saw 400 staff lose their jobs despite Next’s rescue of the brand.

It was blamed on a squeeze on consumer spending caused by cost of living pressures as well as rising import costs and supply chain pressures.

Boss Nicola Thompson apologised at the time of the collapse to customers, employees, supplier and shareholders who were affected.

The much-loved brand had floated on the London Stock Exchange with a valuation of £775million just two years earlier.

Its collapse came despite an attempt by co-founder Ning Li to buy the company back.

He said that his proposal, which would have secured 100 jobs and honoured all undelivered orders, had been rejected.