Electricals co Miller Bros in administration

Wed Jan 7, 2009 12:23pm GMT
 
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LONDON (Reuters) - Electrical goods retailer Miller Brothers has become the latest victim of the consumer downturn, appointing business advisers PKF as administrators.

The business, which employs 110 staff, operates through a store in Doncaster and a web site and also runs hosted e-retail electrical goods services on behalf of other retailers, said a statement from PKF.

A key customer had been variety store retailer Woolworths which collapsed late last year.

"Unless a buyer for the business is found, the store will continue to trade throughout January, but will close by the end of the month," added PKF.

Miller Brothers follows a raft of other retailers into administration, a form of creditor protection, as consumers cut back spending amid rising unemployment, diving house prices and fears of a deep recession.

(Reporting by James Davey, Editing by Mark Potter)

 
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