ModelZone will disappear from the high street with all stores set to close next month after administrator Deloitte received no viable offers for the business.
Subscribe to Retail Week
Want to read more on entertainment?
Subscribe for less than £1 a day and get immediate online access.
Deloitte, which was appointed administrator in June, will shutter the remaining 18 ModelZone stores in the middle of September, resulting in another 126 job losses. The retailer had 47 stores when it collapsed.
Deloitte joint administrator Richard Hawes said: “We sought to find a potential buyer for some or all of the stores, but unfortunately no viable offers have come in since our appointment two months ago.”
“Once again, we would like to thank the company’s employees for their support and professionalism during this time.”
Deloitte said increasing online competition and unprofitable new stores are to blame for ModelZone’s administration.
No comments yet