Turn on thread page Beta

One of the UKs biggest electronic store Maplin collapses watch

    • TSR Support Team
    • Thread Starter
    Offline

    19
    ReputationRep:
    TSR Support Team
    http://www.bbc.co.uk/news/business-43223175

    One of the UK's biggest electronics retailers has collapsed into administration after talks with buyers failed to secure a sale.
    Maplin, which has more than 200 stores and 2,500 staff, will continue to trade through the process.

    The business faced the slump in the pound after the Brexit vote, weak consumer confidence and a withdrawal of credit insurance.
    These factors made it "impossible" to raise capital, boss Graham Harris said. The news came shortly after retailer Toys R Us went into administration.

    "We believe passionately that Maplin has a place on the High Street and that our trust, credibility and expertise meets a customer need that is not supported elsewhere," Mr Harris said.

    Maplin will now work with administrators PwC "to achieve the best possible outcome for all of our colleagues and stakeholders", Mr Harris added.
    Offline

    10
    ReputationRep:
    (Original post by Ninja Squirrel)
    http://www.bbc.co.uk/news/business-43223175

    One of the UK's biggest electronics retailers has collapsed into administration after talks with buyers failed to secure a sale.
    Maplin, which has more than 200 stores and 2,500 staff, will continue to trade through the process.

    The business faced the slump in the pound after the Brexit vote, weak consumer confidence and a withdrawal of credit insurance.
    These factors made it "impossible" to raise capital, boss Graham Harris said. The news came shortly after retailer Toys R Us went into administration.

    "We believe passionately that Maplin has a place on the High Street and that our trust, credibility and expertise meets a customer need that is not supported elsewhere," Mr Harris said.

    Maplin will now work with administrators PwC "to achieve the best possible outcome for all of our colleagues and stakeholders", Mr Harris added.
    I'm watching for the possibility of buying Maplin for £1.
    Offline

    19
    ReputationRep:
    I use to love Maplins.

    Then started buying online because it was cheaper. Guess I should take part of the blame for their collapse.
    • TSR Support Team
    • Thread Starter
    Offline

    19
    ReputationRep:
    TSR Support Team
    (Original post by Sulfolobus)
    I use to love Maplins.

    Then started buying online because it was cheaper. Guess I should take part of the blame for their collapse.
    I've not bought an electronic device from a physical store in over 5 years, I even buy my clothes online most of the time now as well.
    Online

    20
    ReputationRep:
    (Original post by OldMan17)
    I'm watching for the possibility of buying Maplin for £1.
    You probably won't be able to buy for a pound unless you have capital to invest.
    • Very Important Poster
    Offline

    19
    Very Important Poster
    Maplins used to be cheap, then it became stupid expensive. Didnt move with the times properly. Sad times for the staff though.
    Online

    19
    ReputationRep:
    I went in a maplins once whilst I was at university, because I needed something urgently and couldn't wait for delivery. I cant even remember what it was I needed, probably a memory stick for submiting digital files for work or something.

    What I do remember though, was that it cost far more then I would have paid online.

    ---

    Personally, I would be very happy if online shopping was banned.

    Well, not banned. For me, if I was the supreme ruler of wherever, online delivery is fine, but you would have to have a physical shop, in order to operate as an online shop, and the areas you could deliver to would be highly restricted.

    Why? Because I don't see any societal benefit from the destruction of our high streets and retail stores. I think we would be better off paying more, but retaining the core shopping areas in our communities. However, we could selectively use modern technology to help in areas where it can actually make a difference, for example delivery to regions that do not have access to X/Y/Z.

    Its one of those things where I feel like we had a great technological development, and we as a society are just pushing it to the max, We are just saying.. this new thing, I want it 100% all the time. Whereas I think if you designed it from the beginning, knowing the outcomes, a sensible society would be more restrictive.

    (That said, obviously some of you will realize my post is highly hypocritical. I am not yet rich enough to not be hypocritical on this matter. My father and grandfather do live by that rule, both will spend more money to buy something from a local shop, rather then online, but both have far more disposable cash then I do)
    Offline

    21
    ReputationRep:
    I buy most of my electronics from Amazon. It's about time that we moved on.
    • Section Leader
    Offline

    18
    ReputationRep:
    Section Leader
    (Original post by fallen_acorns)
    Personally, I would be very happy if online shopping was banned.

    Well, not banned. For me, if I was the supreme ruler of wherever, online delivery is fine, but you would have to have a physical shop, in order to operate as an online shop, and the areas you could deliver to would be highly restricted.

    Why? Because I don't see any societal benefit from the destruction of our high streets and retail stores. I think we would be better off paying more, but retaining the core shopping areas in our communities. However, we could selectively use modern technology to help in areas where it can actually make a difference, for example delivery to regions that do not have access to X/Y/Z.

    Its one of those things where I feel like we had a great technological development, and we as a society are just pushing it to the max, We are just saying.. this new thing, I want it 100% all the time. Whereas I think if you designed it from the beginning, knowing the outcomes, a sensible society would be more restrictive.

    (That said, obviously some of you will realize my post is highly hypocritical. I am not yet rich enough to not be hypocritical on this matter. My father and grandfather do live by that rule, both will spend more money to buy something from a local shop, rather then online, but both have far more disposable cash then I do)
    So for example you would be in favour of something like what Amazon have been trialling with their stores? The notion of keeping going forward with technology, but still requiring you to visit it inside?

    I know there's no way to ban online shopping but I'd be curious as to your thoughts on initiatives like that, since I came across it/looked into more detail about it fairly recently.
    • TSR Support Team
    Offline

    19
    ReputationRep:
    TSR Support Team
    (Original post by Ninja Squirrel)
    I've not bought an electronic device from a physical store in over 5 years, I even buy my clothes online most of the time now as well.
    I never go into a store for clothes unless there's a sale on and even then most of the time it's just seeing how something fits before ordering it online for a lower price. Electronics is the same, as I type this i'm looking around my room at every electronic item I own and all bar one was purchased online.

    Most businesses whos target market is the so called "millenial" generation are struggling unless they have a big online presence. I used to work for Next when I was a teenager and they were pushing click & collect long before most of their competitors caught on to it. Unsurprisingly it worked and they are now doing better than most retailers.

    Can't say I have any sympathy for the businesses who don't. They had the market share, the customer data, the deals with suppliers, everything they needed to successfully adapt and chose to do nothing.
    • Political Ambassador
    Offline

    20
    ReputationRep:
    Political Ambassador
    Not surprised. Everyone's realised how overpriced they are by now when you can get the same product for half the price online. Same reason Toys R Us is going down the pan, though it's even worse for them because a lot of the locations are hiring out huge warehouses.
    Offline

    20
    ReputationRep:
    Not heard of it; I am sure this is going to affect my life greatly though.
    Offline

    14
    ReputationRep:
    HO HO HO yes zis good news to me. Kapatilism must be krushed!

    Offline

    21
    ReputationRep:
    More high street shops will continue to close and blame all sorts of things but it comes down to.....

    Not moving with the times, large amounts spent on leasing the premises and price competition.

    Toysrus are a classic example of a retailer with huge stores, that aren’t price competitive that haven’t given the customer some sort of special retail experience so they buy their barbie, Lego and console games online, or from somewhere like smyths
    Posted on the TSR App. Download from Apple or Google Play
 
 
 
Reply
Submit reply
Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: March 4, 2018
Poll
How are you feeling in the run-up to Results Day 2018?
Useful resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.