Troubled Maplin shuts up shop for good

Administrators for the failing electronics retailer had been hoping to find a buyer

Maplin has closed the last of its 217 shops, according to the BBC.

The high street retailer went into administration in February following a failure to secure a solvent sale for the troubled business.

PwC, the administrator appointed for the electronics giant, blamed Maplin's troubles on the post-Brexit slump in the pound which led to a higher price being paid for US goods, the withdrawal of credit insurance and the current challenging climate for high street retailers.

At the time PwC was appointed as administrator business was allowed to trade as usual in order to achieve the best result for creditors, and store closures were not expected.

However, as no buyer was found for the ailing retailer, staff redundancies began in March and shops around the country were forced to close.

The BBC reports that attempts to sell the brand's IP address and brand name are ongoing.

Started in 1972, Maplin developed into one of the largest electronics retailers in the UK, employing 2,335 staff at the time administrators took over, and had an annual turnover of £235.8m. Its final owners were Rutland Partners, who acquired it in 2014.

This tweet from April shows that employees had mixed feelings on branch closures.