Retailer to be sold as a going concern

PricewaterhouseCoopers has been appointed as the administrator of ChoicesUK, the DVD and video retailer and rental company that suspended its shares on AIM earlier this week.

The administrator hopes to sell the business as a going concern, which would save the the jobs of ChoicesUK’s 1,700 staff.

Failed attempts by ChoicesUK directors to sell or refinance the retailer earlier in the year meant administration became inevitable.

ChoicesUK, which has 160 stores and a transactional web site, issued a profit warning in April.