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In August , we report that a four - twelvemonth - old , venture - punt remodeling inauguration called Made Renovation was flush it its customer , by their own telling . Though it marketed itself as a one - stop shop to beautify privy — it offered potential customers a variety show of template , then promised to pair them with in - house task managers , avail with required permits , assign them contractors , arrange the involve material and tender update and virtual assistance until every renovation was double-dyed — the great unwashed progressively complained to the fellowship , on social media and to this editor in chief , that what Made Renovation was really providing was broken promises , retentive delays and cost overruns .
One customer severalise TechCrunch that a universal contractile organ assigned to her project by Made refused to demolish her sure-enough bathroom , dismantle only the top half . Another share that Made disbanded its projection direction team without alerting him and spin out the cost - ignore exploitation as a positive for customer . It afterwards broadcast him a downloadable “ Self - Management Construction Support Guidebook . ” Meanwhile , over atHomeAdvisor , a digital mart that connects service professional person with customers , Made Renovation received half a whiz out of five across seven reexamination listed . Made Renovation is “ [ w]here dreams of great - looking lav remodeling and impression in unlined project management go to die , ” publish one reader . “ downright nightmare of an experience ! ” write another .
The founder and then CEO of Made Renovation , Roger Dickey , did n’t respond to our requests for comment at the time . Now , two month later on , the company , which had raised at least$31 millionacrosstworounds of fundings , has let its shareowner hump that it is end the business and selling off “ sure assets of the company ” to an unnamed merchant bank “ as promptly as potential . ” ( Maybe before the acquirer changes its mind ? )
Richard Couch , the chairman and CEO of a turnaround firm , Diablo Management Group , authored the promissory note , saying that his business firm is actively unwinding the caller and that , while Made still exist , he has been appointed its chief executive officer and sole film director .
What that signify for Made ’s customer is n’t clear . We have reached out to lounge for more info . Meanwhile , the Walnut Creek , California , number listed in his letter of the alphabet to shareholders prompts an mistake content , saying that calls to the phone number can not be completed as dialed .
Here ’s the letter that was send out this past Saturday :
October 15 , 2023
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Exhibit at TechCrunch Sessions: AI
To All MADE Shareholders :
This correspondence is to inform you that , good October 10th , 2023 , MADE Renovations [ “ MADE ” , the ‘ ship’s company ” ] announced that it had received a formal Letter of Intent from a potential acquiror whoseeks to buy certain asset of the Company as speedily as possible .
Effective on the same particular date , the MADE Board of Directors engaged the services of Diablo Management Group [ “ DMG ” ] , a nationally agnise turnaround and consulting firm , for the function of bring off thecompany ’s sale of assets and concern stop .
I , Richard G. Couch , Chairman and CEO of DMG , have been name as chief executive officer and the sole Director of MADE . With this action , all Officers of the Company have been free and all member of the Boardhave resigned , except Mr. Couch .
Although we are in combat-ready talks and planning with a possible purchaser , we can not foretell a successful event nor make any approximation of note value at this time . Should this transaction not be completed , we will proceed with business surcease .
We are in the appendage of determining the entire plus and liability of the party . While this process is underway , hard currency resources have sufficiently diminished such that we have suspended payment on any pastdue obligations of the Company . We will provide update on our progress as soon as possible .
Contact with the ship’s company should be direct to the following:• Phone : 925 - 979 - XXXX• Email : info@maderenovations.com
truly ,
Richard G. CouchDirector and CEOUntitled Labs , Inc. dba Made Renovations
