Discussions on the sale of Maplin end with the potential buyers pulling out, according to The Telegraph-- with a key reason being the retail sales slowdown across the UK.
The newspaper believes a trio of parties was interested in buying Maplin-- Blackstone, CVC Capital Partners and Advent International-- for a sum that could have reached up to £400M.
Maplin owners Montago will now probably hold on to the business for at least another year, in hopes of the retail sector returning to earlier health. The worsening economy even hit Maplin's online presence, the newspaper reports.
Its 2010 totals show pre-tax losses of £32.7M (from sales of £213M)
The electronics retailer specialises in off-brand niche CE, even if its successs comes through the sale of novelty gadgets (such as a solar-powered briefcase).
Go Maplin Electronics Pull Sale in Face of High Street Gloom (The Telegraph)
Go Maplin
