Our Price to be broken up after no buyer is found

Music chain Our Price is to be broken up after administrator BDO Stoy Hayward was unable to sell it as a going concern.

The administrators will shut another 33 Our Price stores, trading under the Sanity fascia, over the next fortnight.

Approximately 230 staff will be made redundant, including 30 at the head office at Alperton, London. Earlier this month, 160 Our Price staff lost their jobs when 31 of Sanity's 106 shops were shut.

A BDO Stoy Hayward spokeswoman said: 'We are disappointed that we have been unable to sell the business as a going concern, and are in negotiations with parties that have expressed an interest in purchasing parts of the portfolio.'