Monday, March 20, 2023

Retail giant Maplin looking for buyer

The giant electrical retailer Maplin is reported to be trying to formulate a pre-pack administration to avoid the total loss of the company.

Maplin were bought by Rutland Partners  in 2014. In 2017 they lost some of their credit insurance deals which resulted in some suppliers pulling their support and products.

Maplin has a Llanelli store based at Parc Pemberton and it is not yet clear whether or not that store will suffer any job losses until any pre-package administration deal is established.

As of June 2017, there are approximately 217 Maplin Electronics stores. The company operates an extensive online, telephone, and mail order sales service.

It was announced on Sky News on the 19th February 2018 that Maplin had confirmed that the business would be entering administration in a bid to source a new buyer for the business.

It is understood that the company are still hopeful of striking a rescue deal with Edinburgh Woollen Mill, the retail empire, which includes Peacocks and Country Casuals and is run by Philip Day.

Maplin said it expected to be able to unveil a “solvent sale” within days.

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