UK PC manufacturer Time has snapped up the assets of Tiny Computers, which recently went into administration, in an effort to become the UK's 'largest' technology and PC retailer.
The Burnley-based manufacturer will rebrand both its own and Tiny's stores from June to form a 150-strong High Street chain called 'The Computer World'.
Time corporate spokesman, Colin Middlesmiss said that there would be around 120 store closures, but 80 of these would be concession stores - which are not separate stores in their own right, but hired space within another store in a retail park.
The other 40 or so store closures will be in towns and cities where there is both a Tiny branch and a Time branch. "In this case we would judge which branch is better and convert that one," said Middlemiss.
"Undoubtedly with this sort of consolidation, job cuts will happen," he added.
Job losses are expected, but no details have been finalised.
Both companies' marketing and product development will remain separate, with the new business working to improve the PC market share for each other, said Dr Tariq Mohammed, marketing director at the Time Group.
The new stores will focus on personal service, providing customers with a better value experience through effective training of consultants, the company claimed in a statement.
Andrew Hosking, of Tiny's administrator Grant Thornton, said in a statement: "Competition in the sector has been savage and consolidation inevitable. Tiny did not adjust overhead base in response to sales down some 40 per cent.
"In current market conditions we are delighted to have achieved a sale of the business as a going concern. This protects the interests of customers, staff and creditors."
Time hopes the acquisition will increase its turnover to over £300m per year.
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