Toy retailer Modelzone faces administration, could shed 400 jobs

Famous toy retailer Modelzone is going through a pretty bad patch right now, given the fact that it recently went under administration, putting 400 jobs at risk.

According to a news report on the matter, the company’s current property portfolio includes 47 leasehold retail stores as well a significant online sales platform. However, while the online platform managed to do fairly well, the brick-and-mortar stores recorded significant losses, which, coupled with increased market competition, led to the board of directors asking for the company to go under administration.

Modelzone Holdings Ltd also owns the toy wholesaler Amerang Ltd, which operates from its own 80,000 sq ft warehouse. Richard Hawes, Rob Harding and Nick Edwards, partners at business advisory firm Deloitte, who were appointed joint administrators for Modelzone, confirmed that this business is now in administration with the rest of the group.

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