Category: Appliance

Korea’s electronics makers, which have expanded their global market shares in recent years, face a slew of challenges from foreign rivals in the washing machine segment, one of Korea’s key home-appliance exports.

ODometic plans an initial public offering next month, valuing the Swedish domestic appliance maker at up to SKr7.4bn ($971.3m) and ending an 18-month listing drought in Sweden.

UP to a dozen jobs have been lost at the Newry branch of Shop Electric. The company went into administration on Friday, and all branches across Northern Ireland ceased business yesterday morning (Monday November 3).

Mixed fortunes emerged today for two troubled companies with Tees Valley workers.

More than 400 jobs have been axed by administrators running the household appliance retailer Northern Electric.

Richard Fleming, KPMG Corporate Recovery Partner and joint administrator of Northern Retail Limited (trading as Northern Electric) and Shop Electric Limited said:

Financially troubled ShopElectric and Electricworld shops will open today across Ulster to enable customers to reclaim goods.

Northern Electric stores remained shut today as the crisis-hit retailer continues administration talks.

At the request of the Directors, Richard Fleming and Julian Whale of KPMG Corporate Recovery were on the 31 October appointed joint administrators to Shop Electric Group plc, the holding company, and its two trading subsidiaries: Northern Retail Limited (trading as Northern Electric), which runs …

The jobs of up to 500 shop workers are hanging in the balance after Northern Electric Retail went into administration.