Mobile operators look to acquire Phones4U assets
The two mobile operators whose cancelled contracts led to high street retailer Phones4U falling into administration are in talks to acquire parts of the business.
The FT leads on the story but adds little to my blog yesterday morning which stated that EE and Vodafone were likely to look at picking up remnants of the P4U chain.
I also stated that Dixons Carphone, the newly-merged retailer, may take on some of the 5,596 staff that have been laid off including 292 in Scotland. It is considering offering jobs to the 800 staff who work in its concessions in its stores and is said to be looking to acquire some of the P4U stores. Already it is facing a squeeze on space as many of the Currys and PC World stores attempt to accommodate Carphone Warehouse products into its outlets.
PwC, which was appointed administrator by P4U owner BC Partners, said on Monday night that it hoped to “engage with parties who may be interested in acquiring all or part of the business” and that it would be talking to network operators and suppliers.
Vodafone and EE have rejected suggestions that they effectively forced P4U out of business, but the chain’s founder John Caudwell has called for the regulator to investigate.