Online retailer Made.com has collapsed into administration after failing to maintain its Lockdown popularity.

The news puts about 500 jobs at risk and has left a question mark over whether outstanding orders will be fulfilled.

The company's brand, domain names and intellectual property were immediately bought by fashion and homeware retailer Next for £3.4m.

But it has not taken on the company's workers or any of its stock of furniture, lighting and homeware.

It is a swift reversal of fortunes for Made which was valued at almost £800million when it was listed on the stock exchange in June 2021 and lauded as the future of furniture retail.

Its sales boomed during lockdown when consumers spent money doing up their homes but fell away when Covid restrictions came to an end.

Administrators from PricewaterhouseCoopers (PwC) were appointed yesterday (Nov 8) to look into the company's other remaining assets and said creditors would be paid according to statutory priority.

The company's ordinary shares were suspended from trading on November 1 and the board said it expects the company will be wound up in due course.

Susanne Given, chair of Made, 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. We appreciate and deeply regret the frustration that MDL going into administration will have caused for everyone.

"I want to sincerely thank all our employees, customers, suppliers and partners for your support throughout the past 12 years and especially during this difficult time where we have tried so hard to find a workable solution for the company and all its stakeholders."