One of the UK's biggest electronics retailers has collapsed into administration after talks with potential buyers failed to secure a sale.
Maplin, which has more than 200 stores and 2,500 staff, will continue to trade through the process.
The business faced the slump in the pound, weak consumer confidence and a withdrawal of credit insurance. These factors made it "impossible" to raise capital, boss Graham Harris said.
So sad. Years ago, I used to love shopping in Tandy & Maplin for electronic components & project kit. As we buy more and more online, this is ultimately the consequence. We sow the wind & reap the whirlwind...
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