Maplin Goes Into Administration – Talks With Buyers Failed To Secure A Sale
Maplin of the UK’s biggest electronics retailers has gone into administration after talks with buyers failed to secure a sale. Maplin has more than 200 stores and 2300 staff, it will continue to trade through the administration process.
A notice on its website states :-
Zelf Hussain, Toby Scott Underwood and Ian David Green have been appointed as joint administrators of Maplin Electronics Limited to manage its affairs, business and property as its agents and act without personal liability. All are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The joint administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The joint administrators are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the administration.
At the time of writing this story, the above notice, is only in small text at the bottom of the website and is not in a noticable position.
Graham Harris, the company’s chief executive, said: ‘I can confirm this morning that it has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process. During this process Maplin will continue to trade and remains open for business.’
Duncan is a technology professional with over 20 years experience of working in various IT roles. He has a interest in cyber security, and has a wide range of other skills in radio, electronics and telecommunications.
Very bad news as Maplin are a great company , knowledgible and a major asset in the market place . What reason have they given for their problems ????? Why are they folding???