Maplin Electronics Limited (01264385): administration
- Status
- In administration
- Administration began
- 2018-02-28
- Administrators
- Zelf Hussain, Victoria Hatton
- Administrators' firm
- PwC
- Formerly
- Maplin Electronic Supplies Limited
- Incorporated
- 1976-06-22
- Location
- Leeds
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- Weak consumer demand
- Shift to online / high-street decline
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
- Competition / price pressure
- Parent or group failure
From the administrators' statement
The Company was founded in 1972 and operated as an electrical retailer headquartered at Churchill House, and Manvers, with 217 high street and out-of-town stores in the UK and Ireland, as well as an online digital presence. The Company employed 2,335 members of staff, of which 218 were based at the two head office locations. The directors of the Company were employed by a different group company, MEL Bidco Limited.
The Company is the main trading entity within the wider Maplin Group. The Group is ultimately controlled by Rutland, which took control in 2014 through an acquisition of the Group. We are only appointed over the Company itself. At the time of writing this report none of the other group companies are subject to insolvency proceedings. A group structure is provided at Appendix A.
Administrators' statement of proposals (2018-05-02) · Companies House register