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All jobs set to go at Modelzone

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Collapsed toy and model chain Modelzone is to close all its remaining stores after no offers were received on a going concern.

The company, which employed 385 employees across 47 stores at the time of its June administration, will close 18 remaining stores in the middle of September- resulting in a further 126 job losses.

Modelzone, which was founded 26 years ago and was the UK’s largest specialist model chain, has struggled in the face of increased online competition.

Richard Hawes, Joint Administrator and partner in Deloitte’s restructuring services practice, comments: “We sought to find a potential buyer for some or all of the stores, but unfortunately no viable offers have come in since our appointment two months ago.”

Published on Thursday 29 August by Editorial Assistant

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