Electronics specialist Maplin searches for buyer

Tue, 20 Feb 2018 | BUSINESS SALE

Electronics retailer Maplin is reportedly in crisis talks with a number of potential buyers as its owners sound out a range of options to secure the future of the company.

The owner of the firm, Rutland Partners, has engaged advisors from PricewaterhouseCoopers (PwC) to assess next steps after already taking on a series of cost-saving measures and asking landlords for better rent terms.

It is thought that Maplin’s management are confident that they will be able to find a buyer despite no deal emerging yet. PwC has advised that a pre-pack sale might be the best course of action and that the firm should also prepare for calling in administrators.

Potential buyers include Edinburgh Woolen Mill, a fellow retailer that also owns high street names Jager, Peacocks and Jane Norman.

A Maplin spokesperson said that Rutland were in “advanced talks” to secure a solvent sale of the business this week.

They added: “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.”

Maplin has endured difficult trading conditions in recent months, with factors including a weak balance sheet and an unsustainable cost base coming to bear. In November 2017 credit insurers dialled down their exposure to the firm as investors endured widening losses, causing stock prices to tumble.

According to Companies House, Maplin recorded a pre-tax loss of £3.9 million in 2016-17, up from £2.1 million in the preceding year. Turnover also rose, hitting £235.8 million from £234.6 million in the previous year.

A statement alongside the accounts described the period as a “transformational and challenging year” for the firm but added that progress had been made towards a new strategy for 2020.

One of the UK’s largest electronics retailers, Maplin has more than 200 retail locations around the UK and employs around 2,500 members of staff.


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
21
 
Sep
 

Cycle retailer seeks buyer | BUSINESS SALE

Evans Cycles have entered the market and are on the hunt for...

 
15
 
Jun
 

Cumbria hotel on sale for an undisclosed price | COMMERCIAL PROPERTY

A Georgian hotel from the 19th century has been put on the m...

 
11
 
Jun
 

Upholstery chain falls into administration | ADMINISTRATION

Fabb Sofas, the furniture retailer founded in 2016 by billio...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources