A question mark hangs over the future of 14 Sony Centre stores in the UK, as the company running them has been placed into administration.
High street electronics retailer Sonex Communications appointed London-based administrator BDO LLP on 13 September, and is responsible for running 14 of the 108 Sony Centres in the UK. It also operates a similar retail outlet called Sonex Presents Sony.
According to Sonex's most recent financial results, the firm made a pre-tax loss of £2.7m in the 12 months to March 2010. Its turnover also slumped by £7m to £23.8m during the same period.
This was despite the firm embarking on a series of cost-cutting measures over the past year, which include withdrawing its Sony Centre concessions from 13 Debenhams stores.
The accompanying Companies House report suggests Sonex has become the latest victim of the slowdown in high street spending on consumer electronics, which has recently blighted sales at Dixons Retail and Argos.
"The market for electrical goods on the high street continues to be highly competitive, but the company has strived to maintain its market share," it states.
"The company is faced with an increase in competition, particularly via the internet and major retailers on the high street, [and] the company's gross margins came under pressure during the financial year."
In a statement, Sony UK confirmed Sonex's slide into administration, but stressed that it was business as usual for the stores it operates.
"Sony Europe Limited will be examining options for the business and the stores moving forward, the details of which will remain confidential until a conclusion is reached," said the statement.
"In the meantime, all the stores will continue to trade as normal and all product warranties and customer orders relating to Sonex Communications will be honoured."
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