Phones 4u closed as company goes into administration

phones4u

Phones 4u has gone into administration following decisions by network operator EE and Vodafone to withdraw supply from the retailer, leaving over 5500 people's jobs at risk.

The company, which sponsors Manchester's biggest arena, is owned by private equity firm BC Partners and has 550 standalone stores.

The Wilmslow store, along with all its others, is closed today, Monday 15th September, pending a decision by its administrators as to whether the business is able to reopen for trading.

Vodafone decided not to renew its contract with Phones 4u two weeks ago and the other mobile networks had already stopped trading through Phones 4u, with Three leaving in 2012 and O2 earlier in 2014.

The chain was founded by entrepreneur John Caudwell in the 1980s as the retail arm of the Caudwell Group which was sold 2006 for £1.5 billion to private equity firms Providence Equity Partners and Doughty Hanson & Co. The group was then acquired by the private equity group BC Partners in March 2011 in a deal estimated to be worth about £700 million.

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Comments

Here's what readers have had to say so far. Why not add your thoughts below.

Oliver Romain
Monday 15th September 2014 at 5:10 pm
Shame for the staff. I once went into this shop enquiring about half a dozen mobile phones for my business. They were new fangled blackberrys which shows how long ago. The staff could not deal with businesses enquiries and despite leaving my details for the business team to follow up, I never heard from them and consequently never returned to the store. John Caldwell would never have let a valuable business opportunity through his grasp.
Simon Worthington
Wednesday 17th September 2014 at 8:10 am
Great spot for a coffee shop- or opticians, estate agent, charity shop etc. etc. At least the corporate bottom feeders have burnt their whole hands!!
Nick Jones
Wednesday 17th September 2014 at 4:57 pm
Very sad for the staff.... all completely out of their control...... But John Cauldwell picked it up and turned it round selling it for millions..... it worked for him... so I wonder if he will buy it back again ?... the thought of another coffee shop !!
Pete Taylor
Wednesday 17th September 2014 at 7:59 pm
It used to be Harry Jackson's fruit and veg shop; now that is something this town could do with!
Steve Savage
Thursday 18th September 2014 at 2:17 pm
Do you have any idea of the volume of fruit and veg they would need to shift to make this viable!?