Made.com
E-commerce / Furniture · Collapsed Nov 2022
Case Summary
Made.com raised over £300M and IPO’d in 2021. Post-pandemic demand normalisation, supply chain disruptions, and an unsustainable cost base led to a rapid decline. The company entered administration in November 2022.
Peak Signal Scores
News & Events
8Funding
8Workforce
7Sentiment
7Market Position
6Company Filings
5Signal Timeline
Post-IPO hiring spree pushes headcount to record levels.
Glassdoor sentiment begins steady decline.
Marketing spend quietly reduced — share of voice declining.
First layoffs announced.
Profit warnings. Share price collapsed 90%+ from IPO.
Emergency cash raise fails.
Made.com enters administration.
What ERR Would Have Shown
By mid-2021, Made.com’s post-IPO hiring spree had pushed headcount to unsustainable levels relative to demand. Glassdoor sentiment declined steadily. The company began quietly reducing marketing spend — visible through declining share of voice metrics. ERR would have flagged the demand-cliff pattern 18 months before the company entered administration, matching signals seen in two other consumer e-commerce failures in this library.