Popular UK indie chain ePlay has gone into administration after declining customer and profit levels.
The firm has already been forced to close down a number of outlets, leaving store staff redundant – and expects more employees to be left out of work soon. It has blamed competition from supermarkets for its downfall.
David Rubin and Partners placed the retailer into administration on Wednesday, September 12th and is searching for a buyer. No suitor had been named at the time of going to press.
Director of ePlay Ash Kejriwal told MCV:
Trade has been declining and margins have been declining, but I would say the biggest reason we are in this situation has been competition from supermarkets.
We’re very sorry that our staff are going to lose their jobs because of this. Some stores have closed already and some will be closed in the near future.
The administrators are trying a number of options that include selling off all the remaining stores and also selling them off one by one.
We have been treated very well by our suppliers and the industry in general over the years, and we are thankful for that.”
ePlay picked up the trophy for Best Independent Retailer at the MCV Industry Excellence Awards 2007 in April.