Almost half the stores operated by stricken electrical retail chain PowerHouse are set to be closed by the end of the day.
Administrative receiver Deloitte & Touche signalled its intention last week to shut the 93 stores, with the loss of around 800 jobs.
Deloitte, which is in the process of finding buyers for the remaining 130 PowerHouse shops, has not yet detailed which outlets were on the closure list. They were due to shut by today.
PowerHouse – the UK’s third largest electrical retailer – called in administrators on August 20 after a trade insurer withdrew cover for some of the company’s suppliers.
The remainder of the business may now be sold as a going concern with Argos-to-Homebase retail giant GUS, Comet owner Kesa Electricals and Dixons among those thought to be interested.
In a statement earlier this week, Deloitte partners Nick Dargan and Neville Kahn said a number of initial inquiries had been received.
Mr Dargan added: “We are working with a number of parties who have expressed interest and are providing them with further financial information.
“During this period we are continuing to trade from the 130 stores that now form the core part of the business.” The statement said PowerHouse’s future was likely to become clearer next week.
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