2,300 jobs at risk as Maplin goes into administration

PwC were today appointed administrators of Maplin Electronics Limited, which has head offices in Manvers and London.

The firm employs 2,335 people and has 217 stores across the country.

The administratiors said the move followed “a decline in performance as a result of the softening of consumer demand in what has been a challenging retail environment and higher-priced (US denominated) products”.

They said talks had been held about a possible sale but this “unfortunately could not be concluded”.

Maplin will continue to trade through the administrators as further discussions are held and attempts are made to find a buyer.

Mr Hussain said: “The challenging conditions in the UK retail sector are well documented. 

“Like many other retailers, Maplin has been hit hard by a slowdown in consumer spending and more expensive imports as the pound has weakened.

“Our initial focus as administrators will be to engage with parties who may be interested in acquiring all or part of the company. 

“We will continue to trade the business as normal whilst a buyer is sought.

“Staff have been paid their February wages and will continue to be paid for future work while the company is in administration.”