Maplin seeks potential buyers
Electronics retailer Maplin is seeking potential buyers amid reports it is under threat of administration.
The Rotherham-headquartered firm is owned by Rutland Partners and has more than 200 stores and 2,500 staff across the UK. It hopes to firm up a deal this week.
The possible sale was first reported by Sky News after insurers withdrew credit cover last year because of falling profits.
However, Maplin now expects to be able to unveil a “solvent sale” within days.
A Maplin spokesperson said: “We are in advanced talks with a number of parties and expect to be in a position to announce a solvent sale of the business within days. Once secured this will stabilise the business to the benefit of all stakeholders and provide Maplin with the financial firepower to deliver its 2020 multichannel strategy focused on smart tech.”
Rutland Partners has owned Maplin since 2014 and Sky News reported that the potential buyers include Edinburgh Woollen Mill, the clothing company that owns Peacocks, Country Casuals and several other retailers.
It was also reported that if Maplin could not find an outright buyer, it would consider a pre-pack sale.
