Caudwell venture bucks the trend by trading poorly on gadgets over Christmas
Gadgets chain Must Have It is to close its 52 shops, following disappointing Christmas trading. No closure date has yet been given for the chain, which is owned by Phones 4U founder John Caudwell.

The store closures will mean the loss of 400 jobs, although it is hoped that most staff will be able to find jobs elsewhere in the group. The retailer said its Christmas sales had been hit by department stores stocking a larger range of similar products.

Caudwell bought the chain, previously known as Discovery, out of receivership in 2001 and invested heavily in re-branding the business.