Phones 4U in Administration
High Street retailer of mobile communications, Phones 4U, has entered Administration putting over 5,000 jobs at risk.
The chain, which is owned by private equity firm BC Partners, said their 500 stores would be closed on Monday.
Phones 4U say that the failure is due to mobile networks Vodafone and EE's decision not to renew their supply contracts, following 02's decision to end their contract earlier this year. "if mobile network operators decline to supply us, we do not have a business", said David Kessler of Phones 4U.
It is unclear how the failure of Phones 4U will affect their other suppliers at this stage, however CMR policyholders with outstanding invoices in respect of Phones 4U should contact us immediately for further advice.
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