The shutters stayed down at the Phones 4u store in Bradley Stoke’s Willow Brook shopping centre today (Monday 15th September) after it was announced that the mobile phone retailer had been put into administration.
The picture was the same at more than 550 other Phones 4u stores across the country, leaving a total of 5,595 employees (including those at concessions within Currys and PC World stores) with an uncertain future.
The store closures follow a decision by mobile network EE to stop selling phones through the Phones 4u chain, following similar moves by Vodafone, O2 and 3.
Accountancy firm PwC, confirmed this afternoon as administrator for the Phones 4u business, issued a statement saying:
“This is a very sad day for the business and the many people working there. In light of our impending appointment the directors understandably took the decision to close all the shops today and sent many staff home.”
“Our initial focus will be to quickly engage with parties who may be interested in acquiring all or part of the business, and to better understand the financial position and options for the company. The stores will remain closed while we have these conversations.”
“We will also be talking to network operators and suppliers, and trying to access funds to pay for the costs of the business, including wages.”
“These conversations will determine whether we can re-open stores and trade, and also if and when we can pay the arrears of wages to employees. Our hope is that we will be able to pay all the outstanding wages arrears.”