Sony Centres up for sale following administration

Tue, 27 Sep 2011

The company behind 15 of the UK's Sony Centre stores has entered administration, sending administrators scrambling to find a buyer for the stores.

The electronics retailer Sonex Communications has called in administrators from BDO LLP, who are now running the 15 stores that had been Sonex's responsibility. The 93 Sony Centres that were not under Sonex's operation have not been affected by the administration.

Sonex had been implementing a number of cost-cutting measures over the past year since registering a pre-tax loss of £2.7 million in the year to March 2010. It had withdrawn its Sony Centre concessions from 13 Debenhams stores, but is thought to have fallen victim to a general slow down in high street electronics spending, with people doing more of their electronics buying online.

Sony UK issued a statement on the administration stressing that business was continuing as normal in the stores it operates.

"Sony Europe Limited will be examining options for the business and the stores moving forward, the details of which will remain confidential until a conclusion is reached," the statement read. "In the meantime, all the stores will continue to trade as normal and all product warranties and customer orders relating to Sonex Communications will be honoured."


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.