Maplins, one of the UK’s biggest chains of electronics retailers, has collapsed into administration after talks with buyers failed to secure a sale. More than 200 stores and 2,300 staff are affected.

The business faced the slump in the pound after the Brexit vote, weak consumer confidence and a withdrawal of credit insurance.  These factors made it “impossible” to raise capital, boss 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,” Harris said.

Administrators PwC said they will “explore all opportunities to find a new owner”.

Other posts by :

1. Arianespace to offer ‘rideshare’ launches
2. Space industry warns Europe must do more
3. Banks increase SpaceX forecasts
4. Orbex bankruptcy details released
5. South Korea confirms LEO plan
6. Bank: “SpaceX should lobby for an MVNO”
7. Unpacking and bagging
8. New Glenn amends pre-launch methods
9. Iridium deal a “watershed” moment for Rocket Lab

Categories: Articles, Broadcast, Business