Phones 4u

UK retailer Phones 4u has recently gone into administration, announcing the closure of 700 stores and placing 5,600 positions at risk. Luckily for those involved, there is - at least - some light at the end of this tunnel with multiple parties picking up stores and absorbing employees, including both EE and Vodafone.

EE is set to acquire 58 stores from Phones 4u, safeguarding 359 jobs. On Friday, Vodafone announced the company would take over 140 Phones 4u outlets. While UK mobile operators and Dixons Carphone (Currys PCWorld) are looking to absorb Phones 4u property and take on employees who face losing their jobs, there are still thousands of jobs still at risk.

It's reported that the closures came about due to mobile operators limiting the amount of hardware and contracts sold through third-parties to bolster earnings. Carphone Warehouse remains as the sole third-party retailer of wireless phones and service in the UK.

Source: BBC