Maplin’s administrators have drafted in commercial property experts GCW to advise on the collapsed retailer’s portfolio as they ramp up efforts to secure a sale.
PwC, which was appointed to handle the process on Wednesday, has tasked the retail property consultancy with running the rule over Maplin’s 220-strong store estate.
Retail Week understands that PwC remains confident of selling the business as a going concern.
Maplin tumbled into administration after owner Rutland Partners failed to find a buyer.
As revealed by Retail Week, last-ditch talks with potential purchaser Edinburgh Woollen Mill fell through on Tuesday.
Maplin boss Graham Harris said that left Maplin with “no alternative” but to call in administrators.
Sales at the electricals specialist slumped 7% during the crucial 12-week festive period, in part due to stock shortages caused by credit insurers cutting their cover last autumn.
But Harris insisted: “We believe passionately that Maplin has a place on the high street, and that our trust, credibility and expertise meets a customer need that is not supported elsewhere.”
PwC and GCW will now work together in a bid to help Maplin find a buyer and retain a presence on the high street.
GCW director Simon Morris said: “Maplin have a strong portfolio with both traditional high street and out-of-town locations in [the] best locations.
“We have strong initial interest and are pleased to assist the administrator in achieving the best results for the creditors.”