Shrygue
September 19th, 2007, 16:13
via Games Industry (http://www.gamesindustry.biz/content_page.php?aid=28798)
Independent high street retailer ePlay has called in administrators to look for potential buyers for the company.
The firm, which had a GBP 4.2 million turnover for the year ending June 30 2007, is hoping to be sold as a going concern, thereby avoiding as much disruption to existing staff as possible.
David Rubin and Partners is now overseeing the operation, and the company's Asher Miller believes that market forces have made ePlay's situation difficult.
"These businesses not only face competition from lower cost based internet retailers but also from supermarkets and other major high street retailers who can use their buying power to pass cost savings onto consumers, as well as providing the convenience of being able to buy everything under one roof."
ePlay has 13 leasehold stores across England, and the company will also consider offers for that property portfolio.
Independent high street retailer ePlay has called in administrators to look for potential buyers for the company.
The firm, which had a GBP 4.2 million turnover for the year ending June 30 2007, is hoping to be sold as a going concern, thereby avoiding as much disruption to existing staff as possible.
David Rubin and Partners is now overseeing the operation, and the company's Asher Miller believes that market forces have made ePlay's situation difficult.
"These businesses not only face competition from lower cost based internet retailers but also from supermarkets and other major high street retailers who can use their buying power to pass cost savings onto consumers, as well as providing the convenience of being able to buy everything under one roof."
ePlay has 13 leasehold stores across England, and the company will also consider offers for that property portfolio.