Electrical retailer, Maplin announced today (28th February 2018) that it has entered the administration process.
Over 2,500 jobs are at risk if the company cannot be saved.
The popular electricals chain, owned by Rutland Partners, had hoped to broker a buy out deal with Phillip Day, the businessman behind stores such as Edinburgh Woollen Mill and Peacocks, however talks have completely broken down.
Whilst Maplin is located on the Enham Arch Retail Park and is not an Andover High Street store, it is still a blow for the town.
Chief executive of Rutland Partners, Graham Harris, said today, “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.”