There are fears for jobs at Cumbernauld’s Maplin store after it was revealed today (Wednesday) that the electricals firm had gone into administration.
Talks with buyers to secure a sale for the company have been unsuccessful.
Its 200 stores, including the Cumbernauld store at Westway Retail Park, will continute to trade during the administration process.
It is understood the company employs up to 2500 people across the country.
Graham Harris, Maplin’s chief executive, said: ‘I can confirm this morning that it has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process.
“We believe passionately that Maplin has a place on the High Street and that our trust, credibility and expertise meets a customer need that is not supported elsewhere.”
Maplin will now work with administrators PwC “to achieve the best possible outcome for all of our colleagues and stakeholders”, Mr Harris added.
Maplin has been owned by Rutland Partners since 2014.