Wed, 04 May 2011 | ADMINISTRATION
Cornwall-based retailer Electrical & TV Services (Helston) Limited (ETS) has entered administration. The administrators are now searching for a buyer to save its 57 employees’ jobs.
Bishop Fleming has been brought in to act as the administrator for the troubled business, which has six retail stores in the South West - Bodmin, Penzance, Helston, St Austell, Camborne and Truro.
Joint administrator and chief executive of Bishop Fleming, Jerry O’Sullivan said, “A buyer for the business is being sought and any interested parties should contact the joint administrators.”
“The administrators will now trade the company’s business for a short period to facilitate an orderly disposal of the company’s stock at reduced prices.”
A glance at the website confirms that there is currently a 25 per cent sale off all of ETS’s stock. It sells mainly electrical household appliances, radios and TVs. It has also offered rental and repair of appliances.
An ETS spokesperson said, “We have explored every avenue to keep the business going and save jobs, but this has proved impossible. We deeply regret that the current economic conditions have led to this unhappy situation and we will do all we can to help the staff who may lose their jobs.”
The latest accounts available for the year ending 31 March 2010 show that the retailer reported sales of £8.24 million with losses of £21,000.
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