Changes to Our Business In the summer of 2022, Maker&Son Limited was purchased by Inc & Co. Inc & Co created a new company – Maker&Son Holdings – to be responsible for Maker&Son moving forward and to set up subsidiary companies that could fulfil the backlog of orders that had been inherited from the sale, which was the immediate priority. This included Maker&Son Ops, which was formed to take on operational functions after the sale of Maker&Son Limited. However, Maker&Son Limited was put into liquidation by third parties, confirmed by a court at the end of 2022, and ultimately it became commercially and practically impossible for Maker&Son Ops to run the company’s operations. Maker&Son Holdings therefore took the decision to place Maker&Son Ops into liquidation too. Maker&Son Holdings purchased the Maker&Son brand and Intellectual Property (IP) from the liquidators of Maker&Son Limited. This included the company’s order book. Another subsidiary of Maker&Son Holdings, called Maker&Son Licenses, was activated to achieve and manage licensing agreements with the brand’s existing manufacturers so that backorders and new orders could be fulfilled. Moving forward, selected manufacturers will be responsible for operational functions under the brand identity and intellectual property that they have licensed. For customers, this essentially means that those manufacturers will handle the operational elements of the business moving forward, including managing customer orders and taking payment for new orders. Similar to a franchise model, they will be allowed to sell furniture under the Maker&Son brand and use its designs. Maker&Son Licenses is there to act as the brand guardian – making sure customers receive the quality and service they expect – and will receive a royalty under this agreement. It is staffed by a small but global team who will provide support to licensee manufacturers in relation to marketing and website content. To look after the brand that our customers know and respect, robust checks will be implemented before any agreement is reached with a potential licensee manufacturer, to make sure that the new manufacturing and supply chain meets the highest standards. Customers can be assured that the same high-quality materials will be used to produce Maker&Son designs, and made-to-order items will be hand-created by highly. The only difference is that now the manufacturers will have a greater role in each customer’s journey, and will have direct contact with them throughout. Licensee manufacturers will be responsible for fulfilling orders and processing credit notes that are issued to customers who had placed orders with Maker&Son Limited or Maker&Son Ops. The Maker&Son Licences team will be there to support the licensee manufacturer’s team during any transition period. Maker&Son Licenses and our licensee manufacturers are determined that there will be no compromise on the quality craftsmanship and excellent design that our customers expect. Inc & Co invested over £2 million into Maker&Son Holdings and its subsidiaries to secure the long-term future of the brand. Significant changes were made over recent months to adapt to unexpected circumstances and provide customers who were waiting for orders with the best possible resolution in the circumstances. Together with our partners, and with the support of our valued customers, the Maker&Son collective is here to stay.