THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
ModelZone stores to close after no buyer is found for the business

Administrators for ModelZone, the collapsed toy and model retailer, are proposing to implement a store closure programme after being unable to find a buyer for the… View Article

GENERAL MERCHANDISE NEWS

ModelZone stores to close after no buyer is found for the business

Administrators for ModelZone, the collapsed toy and model retailer, are proposing to implement a store closure programme after being unable to find a buyer for the business.

Administrator Deloitte said it did not believe that ModelZone’s current operation could be sustained and has therefore begun a consultation process with employees. However, no final decision on individual store closures has been taken.

Modelzone currently employs 355 staff across 47 stores. The news follows 11 redundancies within ModelZone’s head office function yesterday.

Richard Hawes, joint administrator, said: “Despite our continued efforts, we have been unable to identify a buyer for the retail business. We would like to thank the company’s employees for their support and professionalism during this time. We continue to talk with potential buyers for Amerang Limited, the wholesale business. The situation at ModelZone does not affect the negotiations with respect to Amerang.”

The administrators added that there will be a number of closing down promotions across the stores to supplement those already on offer, with closures to come over the coming weeks.

Subscribe For Retail News