Lights out for Maplin


Lights out for Maplin

Maplin has entered administration after its negotiations with prospective buyers and backers ground to a halt. Private equity firm Rutland Partners had apparently been in talks with Edinburgh Woollen Mill, but terms could not be agreed.

PwC’s Zelf Hussain, Toby Underwood and Ian Green are handling the administration and will, in the short term, look to continue trading from all of the chain’s 217 stores and its website, whilst seeking a buyer for all or part of the business which currently employs 2500 people.

In a statement, Maplin CEO Graham Harris said “We believe passionately that Maplin has a place on the high street, and that our trust, credibility and expertise meets a customer need that is not supported elsewhere.”

Market watchers are sceptical about the future for Maplin as it stands with one adamant that the brand would fare better as a trading unit of a larger home electricals/electronics business which could offer it both shop floor space and online sales support. This would, however, see large scale redundancies as well as further empty stores peppering UK high streets and shopping centres.

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