Huge job losses and store closures over the next month
The Gadget Shop has hit the buffers, resulting in 620 job losses and the closure of its 45 stores. The retailer is believed to have ceased trading after its high-profile shareholders, which include investment guru Tom Hunter and Freeserve founder Peter Wilkinson, fell out over the handling of a potential sale of the company.

The business went into administration last month and the stores will be wound down over the next four weeks. A closing down sale will be held in the interim period.