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15/09/2014
Retail Chain Phones 4U Placed In Administration
All 550 shops in the Phones 4U retail chain have closed, after the company was placed in administration.
Owners, BC Partners, a private equity firm, announced that the business had been placed in administration and that all the UK's 550 would remained closed. It is not yet know what will happened to the companies 5,596 employees, who, it is understood, have been instructed to go to work this morning to receive more information. The company did say that all staff would continue to be paid 'until further notice'.
Customers who have an existing contract will be unaffected by the announcement, however, it is understood that people who had ordered a phone that had not yet been despite would affected by the closure.
The company has blamed the closure on mobile networks, EE and Vodafone, who recently decided not to renew their contracts with the retailer.
(MH/CD)
Owners, BC Partners, a private equity firm, announced that the business had been placed in administration and that all the UK's 550 would remained closed. It is not yet know what will happened to the companies 5,596 employees, who, it is understood, have been instructed to go to work this morning to receive more information. The company did say that all staff would continue to be paid 'until further notice'.
Customers who have an existing contract will be unaffected by the announcement, however, it is understood that people who had ordered a phone that had not yet been despite would affected by the closure.
The company has blamed the closure on mobile networks, EE and Vodafone, who recently decided not to renew their contracts with the retailer.
(MH/CD)
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