Maplin store sign

Maplin will SHUT last of its 219 stores by July

Maplin store signGETTY

Maplin will shut the last of its 219 stores by July

Unsecured creditors are owed £217 million, but they will get back less than 1 per cent of what they are owed, according to documents filed by PwC at Companies House.

Maplin collapsed at the end of February and PwC held talks with a number of groups about a rescue, as well as selling its stock and intellectual property.

However, it believes that it can raise more cash by selling Maplin’s remaining stock through its stores.

Maplin store with closing down signsGETTY

Maplin collapsed at the end of February and PwC held talks with a number of groups about a rescue

As a secured creditor, Maplin’s former owner Rutland Partners will receive an unspecified amount out of the £102 million that the firm is owed.

Employees will be paid their wages in full.

Elsewhere, home improvement retailer Topps Tiles is expected to say on Tuesday that its statutory half-year pre-tax profits have fallen 4.4 per cent to £16.3 million, because of a combination of bad weather and falling consumer confidence.

Posted on; Express.co.uk>>

Check Also

A piece of paper with money next to it

Hard-pressed savers see another door slammed shut



Life got even tougher for savers last week after National Savings & investments slashed the maximum sums payable into some of its most popular products by an incredible 99 per cent. The treasury- backed savings specialist has hacked down the investment limit on its hugely popular guaranteed growth Bonds and guaranteed income Bonds from £1 million to just £10,000 per person, with immediate effect.