Electronics chain Maplin collapsed into insolvency on Wednesday, making it the second retailer to succumb to a brutal winter for Britains consumer economy in the space of just over an hour.
Graham Harris, who became chief executive only last month, 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.
The British arm of Toys R Us had already called in administrators after last-ditch efforts to find a buyer d…
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