Further to the announcement on 17 October 2022, the Board of Made.com Group Plc (LSE:MADE) provided the following update. The Board invited a select number of parties to work towards firm offers by the end of October. Following further discussion, those parties have all now confirmed to the Company that they are unable to meet the necessary timetable.

As a result, those discussions have been terminated and the Company is no longer in receipt of funding proposals or possible offers for the issued and to be issued share capital of the Company. Whilst at this stage the FSP is ongoing, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be. The Board is considering the position and a further announcement will be made in due course.

If further funding cannot be raised, or a firm offer for the Company is not received before the Company's cash reserves are fully depleted, the Board will take the appropriate steps to preserve value for creditors. There can be no certainty that the terms of any offer or investment received will be suitable.