Maplin staff let go as buyer for troubled retailer remains elusive

8 March 2018, 13:37

Administrators for Maplin have announced the first job losses at the electricals chain since its collapse last week and warned of looming store closures.

PwC said head office workers - 55 in London and eight in Rotherham - were being made redundant.

The retailer left 2,500 roles hanging in the balance when it missed a deadline to raise finances through a rescue deal - a move first reported by Sky News.

The collapse sealed a horrific day for the high street as Toys R Us UK had confirmed its demise just an hour earlier - also succumbing to pressures on the sector including weak consumer confidence and high costs.

PwC said on Thursday: "Unfortunately, it has not been possible to secure a buyer for the business.

"While the administrators remain open to interest from potential buyers, it has been necessary to make a total of 63 redundancies at Maplin's head offices in London and Rotherham.

"All staff affected have been informed and will be paid up to and including their last day of employment."

"The administrators thank the employees for the support, service and co-operation they have provided to the company, both before and during the administration.

"The administrators continue to review the position of Maplin stores and will provide further updates in due course.

All 217 shops are currently open but Toby Underwood, joint administrator and PwC partner, added: "The company is continuing to trade but due to a lack of interest we may be required to initiate a controlled closure programme.

"We still believe there is strong value in the company and we remain focused on doing all we can to preserve the business while we continue trying to achieve a sale."