Maplin store in Hemel Hempstead faces uncertain future as firm enters administration

Maplin has gone into administrationMaplin has gone into administration
Maplin has gone into administration
The future of a Maplin electronics store in Hemel Hempstead faces an uncertain future - after the company went into administration.

Thousands of jobs are set to be axed nationwide in what was a bleak morning for retail.

The news will come as a severe blow to staff at the Maplin store in Hemel, which is based on Marlowes.

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Maplin has more than 200 stores across the country, and the collapse this morning could affect 2,500 jobs.

CEO Graham Harris said: “It has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process.During this process Maplin will continue to trade and remains open for business.

“The business has worked hard over recent months to mitigate a combination of impacts from sterling devaluation post Brexit, a weak consumer environment and the withdrawal of credit insurance.”

The news from Maplin this morning came only shortly after Toys R Us also announced it had entered administration.

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The collapse is thought to put 3,000 jobs at risk at Toys R Us, with the nearest store being in Watford after the closure of the Toys R Us at the Riverside Shopping Centre.

The Watford store however is soon set to close anyway, with the next nearest store based in Luton.