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WTF is a mid season sale? In September Made.com (MADE) was pushing a "clearance sale" to those who get its spam. Last night I was invited to save up to 40% in a mid season sale as you can see below. I guess next month it will be a pre Christmas sale, then a Christmas sale in December before New Year sales start in January. In short every month at what is meant to be a premium retailer sees it act like a discount retailer. One wonders if the ASA would like to check out details of its supposed "hurry before its over" sales promotions as you can bet the ranch that the next hurry before its over promo is almost ready to go.

NEWSFLOW

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I say soar. The shares are up 27% at 4.3p. To those dumb fund managers who ponied up £200 million (half from the company and have from investors bailing) at 200p in last year’s IPO that will be scant consolation. They are still almost 98% offside! The news is mixed.

NEWSFLOW

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As I warned you repeatedly (most recently on 16 September HERE), trading had deteriorated so much that Made.com (MADE) has today had to withdraw its prior full year guidance and, worse still, it now says that it is impossible to raise any money to bail it out on public markets. However it polished the turd it is screwed and here’s why.

NEWSFLOW

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On 16 August I warned HERE that Made.com (MADE) would be lucky to end the year with its bottom of the range cash forecast of £5 million and that the company needed to get away a placing of £40 million. Two days later it ‘fessed that it was working on things with its advisers. Since then matter have got worse and worse and I wonder if this can be rescued at all. First up is the very obvious cash crisis

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Being oh so ESG friendly Made.com (MADE) not only has a bird as its CEO and also as its chairman, sorry chairperson, but it also, until today, had a full flush of 5 NEDs. Such wonderful diversity has not prevented the company guzzling cash at a prodigious rate, missing every target ever set, and it has now admitted that it needs a bailout fund raise PDQ, as I predicted HERE.

NEWSFLOW

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I explained in detail earlier this week why Made.com (MADE) is going to HAVE to do a bailout placing. Floated at 200p just over a year ago, raising £100million by issuing new shares while existing shareholders lobbed out a cheeky £90 million of stock onto gullible institutions, the company is quite simply running out of cash. Today it “responded to media speculation” and essentially ‘fessed that I was right. This will be messy.