Electronic retailer Maplin holds talks to find new buyer

Maplin, the Rotherham-headquartered electrical retailer, is reportedly holding talks with potential buyers in an effort to avoid going into administration.

The retailer, which employs around 2,500 people and 200 stores across the UK, hopes to secure a rescue deal later this week.

Sky News first reported that Rutland Partners, the owners of Maplin since 2014, has appointed PricewaterhouseCoopers to advise on the sale.

If a “solvent sale” of Maplin cannot be secured then it is believed that a pre-pack administration is being prepared.

A Maplin spokesman released a statement, which 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.”

Sky News noted that potential buyers include Edinburgh Woollen Mill, the clothing company that owns Peacocks, Country Casuals and several other retailers.

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