Four Sony Centre stores in the East Midlands have closed and all 22 staff have been made redundant after the parent company Raresupply went in to administration.
According to ERT Online, the business advisory firm Deloitte were appointed as administrators on January 10th following a downturn in demand and low consumer spending, which led to sustained losses.
Chris Farringdon of Deloitte commented: “The company had experienced falling turnover during the past two years, as a result of the changing trends in the purchase of branded consumer electronics, particularly towards the internet, which continues to take market share from the traditional bricks-and-mortar retailers. In conjunction with Sony, we are exploring all expressions of interest in acquiring any of the closed stores.”
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