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UK retailer Chipsworld goes into liquidation

Thu 29 Jul 2010 3:30pm GMT / 11:30am EDT / 8:30am PDT

High Street stores close, but franchise outlets and website remain trading

UK retailer Chipsworld has gone into liquidation, with the closure of 12 stores and loss of 29 jobs.

However, franchise stores - of which there are 13 - and the Chipsworld website are not affected by the liquidation and continue to trade as normal.

"Since the summer of 2008, Chipsworld Ltd has battled against the credit crunch, mounting unpaid debts and the recession in order to keep afloat," said the retailer in a statement issued to MCV.

"Unfortunately, the recession has lasted far longer and bitten far harder than anticipated and Chipsworld Ltd has been unable to continue trading. Many of its customers, particularly in the North-east of England have been badly affected by the recession and to continue trading would only increase the company’s debts further."

Last December the firm instigated a Company Voluntary Arrangement to protect the business and its staff while it tried to pay off debts.

The company was ran by joint MDs Nik Agar and Don McCabe and had been in business for 25 years.

1 Comment

Patrick Frost
QA Project Monitor

396 195 0.5
Shame. I was a Chips customer for quite a while but moved away from the North East.

They did strike me as being the last chain of shops that had staff that knew and cared about games as well as a business that knew what the customer waned.

Good luck to all at the company.

Posted:4 years ago


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