Northern Electric assets to be sold by administrators

The administrators for Northern Electric Retail have given up the search for potential buyers for the company, a month after the business went into administration.

A spokeswoman for KPMG Corporate Recovery, appointed as administrators on October 31, said the focus will now be on realising the value of remaining assets, which include stock, leases and fittings.

The majority of staff were made redundant following the closure of the 60-store chain. The spokeswoman said that, of 1,800 customers who had not yet received goods they had paid for, 600 had been told they will get some or all or their items.

The remaining 1,200 have been advised to contact credit card companies to claim insurance for the goods' value.