Mobile network providers EE and Vodafone are set to purchase almost 200 Phones 4U stores stores following the retailer's fall into administration.
EE will buy 58 stores from Phones 4U after agreeing a deal with administrators PwC, while Vodafone will take over 140 outlets, reports the BBC.
The news confirms rumours last week that the pair were interested in Phones 4U stores, despite not renewing their contracts with the chain. This is what Phones 4U said 'forced' itself into administration.
EE said its move would safeguard 359 jobs. However, thousands of Phones 4U jobs are still at risk (the retailer had more than 700 stores and employed almost 5,600 staff).
PwC says that 628 members of staff at Phones 4U's head office in Newcastle-under-Lyme will lose their jobs.
Dixons Carphone has reached a deal with Phones 4U’s administrators to offer jobs to 800 employees working in Phones 4U concessions within Currys/PC World stores.
EE said it ended its relationship with Phones 4U to focus on its own shops and cut out intermediaries.