1,000 jobs at risk at Powerstore
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Powerstore, the electrical retailer with more than 80 stores in the UK, has applied to go into administration, threatening more than 1,000 jobs, writes Nigel Cope.
The company has applied for a court hearing on 29 April and is seeking voluntary arrangements with its creditors. However, the stores will continue trading as normal.
Powerstore is the latest in a string of casualties in Britain's cut-throat electrical retail market. It operates 52 high street shops and 33 out- of-town superstores. It was born out of the industry shake-out which has seen most of the electricity companies dispose of their retail divisions. Clive Vlotman, a former director of Dixons created the group in 1993 when he acquired some stores from London Electricity. A year ago it bought around 70 Homepower shops from East Midlands and Yorkshire Electricity. Last year it achieved sales of pounds 120m.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments