2,500 jobs at risk as Maplin races to avoid administration

Up to 2,500 shop staff jobs are at risk as electrical retailer Maplin tries to avoid administration.

Rutland Partners, which took control of Maplin in 2014, is in talks with potential buyers, with pre-pack administration being considered as an option if a sale cannot be completed, according to reports.

The electrical giant is attempting to secure new investors by the end of the week in urgent talks. It has over 200 stores across the UK and approximately 2,500 retail staff who could be at risk.

In a statement issued to Sky News on Monday evening, a Maplin spokesman said: “We are in advanced talks with a number of parties and expect to be in a position to announce a solvent sale of the business within days.

“Once secured this will stabilise the business to the benefit of all stakeholders and provide Maplin with the financial firepower to deliver its 2020 multichannel strategy focused on smart tech.”