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31/10/2003
300 jobs under threat at two leading retailers
The future of two of Northern Ireland's leading electrical stores is in doubt after Shop Electric and Electricworld went into administration today.
The move will see the closure of 35 stores, and leaves 300 jobs under threat. Both stores, owned by Gateshead-based Northern Electric Retail, are believed to have suffered "competitive pressures and squeezed margins" which was unlikely to change in the run-up to Christmas.
It is believed that a number of retail stores may have to be sold, however a decision is expected early next week on whether to re-open the remainder for business.
(MB)
The move will see the closure of 35 stores, and leaves 300 jobs under threat. Both stores, owned by Gateshead-based Northern Electric Retail, are believed to have suffered "competitive pressures and squeezed margins" which was unlikely to change in the run-up to Christmas.
It is believed that a number of retail stores may have to be sold, however a decision is expected early next week on whether to re-open the remainder for business.
(MB)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
