Maplin has just 48 hours left to avoid administration

[CAT-THE-FIFTH]

Partly. Partly, another victim of Brexit.

Interestingly enough here are some comments by their CEO regarding that:

https://www.google.co.uk/amp/s/amp.u...-brexit-2018-2

[peterb]

Interestingly enough here are some comments by their CEO regarding that:

https://www.google.co.uk/amp/s/amp.u...-brexit-2018-2

Any excuse for poor management decisions.

[LSG501]

Any excuse for poor management decisions.

When I saw an article and they had blamed brexit and the value of the pound my first thoughts were why are other companies still doing ok then and how do you explain your prices being higher priced than even your brick and mortar rivals a few doors up....if pcworld had the same item as maplins it was usually cheaper.

I can kind of understand a shop being a 'little' more expensive than online but they didn't even have online prices that were competitive. Apart from the occasional offer it was rrp or higher prices and no one in their right mind is going to pay rrp when other shops are below it unless they're absolutely desperate for it at that very moment.

This really does seem like it was down to poor management and overpricing rather than anything else.

[3dcandy]

When I saw an article and they had they blamed brexit and the value of the pound my first thoughts were why are other companies still doing ok then and how do you explain your prices being higher priced than even your brick and mortar rivals a few doors up....if pcworld had the same item as maplins it was usually cheaper.

I can kind of understand a shop being a 'little' more expensive than online but they didn't even have online prices that were competitive. Apart from the occasional offer it was rrp or higher prices and no one in their right mind is going to pay rrp when other shops are below it unless they're absolutely desperate for it at that very moment.

This really does seem like it was down to poor management and overpricing rather than anything else.

The poor management goes back to 2014 when it was last bought. They paid £84 million for a business that was not performing well then. It was widely thought they had overpaid by about 30%. Those costs have hampered them all along. Yes they were too slow to react, and yes Brexit and the value of the pound would have had a huge effect, but they reacted too slowly, too poorly and they have paid the price.
Exactly the same with Toys R Us who it emerged today have made a loss for the last 7 years...

[mtyson]

Maplin Electronics Limited enters administration

"Zelf Hussain, Toby Underwood and Ian Green of PwC have today (28 February) been appointed joint administrators of Maplin Electronics Limited.

Maplin Electronics Limited is a leading UK retailer selling electrical goods to consumers. The company employs 2,335 members of staff and has an annual turnover of £235.8m. Maplin operates 217 stores across the UK and Ireland and has head offices in London and Rotherham.

The company experienced a decline in performance as a result of the softening of consumer demand in what has been a challenging retail environment and higher-priced (US denominated) products. A solvent sale of the business had been pursued by management in recent weeks but unfortunately could not be concluded. Given the cash position of the company, the directors resolved to put Maplin into administration.

The joint administrators will continue to trade the business as normal whilst discussions take place with interested parties in an attempt to find a buyer."

Full news link

[peterb]

Maplin Electronics Limited enters administration


Maplin Electronics Limited is a leading UK retailer selling electrical goods to consumers.

Er - I don't think so!

(Yes, I do realise that is a quote from the administrators)

Sad day though - but as others have said, it isn't the Maplin that it was. That died about 10 years ago.

[CAT-THE-FIFTH]

And they're in administration now along with Toys R Us....

Looks like Prezzo is also in trouble:

http://www.bbc.co.uk/news/business-43232491

They are closing 100 restaurants and shutting down Chimichanga too.

Apparently consumer spending is dropping according to Visa,and it was the worst year since 2012.

[maxp779]

I went in there to buy a male to male 3.5mm cable ~2007.

I did find one... it was £19.99.

Walked out, never ever returned to a Maplin again.

[CustardInc]

I went in there to buy a male to male 3.5mm cable ~2007.

I did find one... it was £19.99.

Walked out, never ever returned to a Maplin again.

Pretty much the experience of everyone that wasn't desperate, clueless, or stupidly loyal.

[philehidiot]

Any excuse for poor management decisions.

I think their foreign exchange risk calculations were obviously not in line with reality then, much like many other companies, but equally other companies have weathered the storm quite well. I'm actually amazed at the overall lack of effect the pound faling has had. Internally the effect has been huge, obviously, but in terms of the distinct reconfiguring of the economy towards export, it just hasn't happened. Yet.

I think the real reason is the final point he makes - creditors looked at it and realised it was no longer sensible to extend credit to them. Credit insurance only covers so much in terms of both value and risk. Everyone on this thread has explained perfectly well why Maplin has failed - old stock (not a problem in the analogue age but in the digital age carrying last years card or chip at the same price is a recipe for disaster), overpriced stock and the internet. Also, I think a lot of stuff is carried by the larger supermarkets - basic cables, sat navs, etc and often at far better prices. The pound dropping may have finished them off, but it probably only accelerated the inevitable.

[philehidiot]

Pretty much the experience of everyone that wasn't desperate, clueless, or stupidly loyal.

Maplin is (perhaps "was" might be better) right next to a motorcycle shop I regularly visit for bits of kit, magic sprays that make your bike rust faster, etc. Every time I acknowledged it was there and made the quick cost/benefit analysis you make when a shop that takes your interest is nearby as to whether it's worth your time and every time I came to the quick conclusion there was likely nothing from there that I needed / wanted that was priced so I might buy it and therefore it was a waste of time. If you can't even get customers like me through the door, there is simply no chance whatsoever the masses are going to buy anything.

[Saracen]

Pretty much the experience of everyone that wasn't desperate, clueless, or stupidly loyal.

I wouldn't go quite that far, though I agree with the general sentiment.

It also appeals to those looking for convenience, even at a premium. Caveat .... I will pay a premium for "right now, not paying delivery ir waiting one or several days for a courier. "

I won't pay daylight-robbery rates, like £20 for that 3.5mm lead.

So being neither desperate, clueless and not 'loyal'cat all, never mind stupidly so, I still find (found) myself in Maplins, probably about once a month.

Why? Sheer convenience. I'm buying something at, say, £20 or less, and it cost 10%, even 20% more than I can get it mail-order, then fine - it's worth it to me. If I'm buying a lot of items, or expensive ones, then I'll find other places, or if absolutely necessary, mail order.

Will I miss them? Yup. Hugely? Not really.

[CustardInc]

It also appeals to those looking for convenience, even at a premium. Caveat .... I will pay a premium for "right now, not paying delivery ir waiting one or several days for a courier. "

If you can't wait 3 days to get it cheaper and delivered to your door, you want it badly enough to pay the premium. That is a (low) level of desperation.

[peterb]

If you can't wait 3 days to get it cheaper and delivered to your door, you want it badly enough to pay the premium. That is a (low) level of desperation.

I bought something from Maplin the other day because I needed it NOW! I was setting up a bit of kit for a client and needed an HDMI to DVI converter. Cost £13 - cheap as I got the job done there and then instead of waiting a day with the equipment down time and the client drumming his fingers.

[Saracen]

If you can't wait 3 days to get it cheaper and delivered to your door, you want it badly enough to pay the premium. That is a (low) level of desperation.

No, it's not. It's a matter of valuing the small difference in price more highly than the inconvenience of mail order. There's no desperation about it.

If you look back at my posts on mail-order, over many years, you'll find I'm not a fan. First, there's the inconvenience of having to be in to accept many deliveries. Then, there's that so many of 'em won't give a time slot, or if they do, it's AM or PM, and even then they often don't show up when they're supposed to. I've had countless examples of waiting all day for something that didn't show up.

Then, there's the occasions when the wrong thing shows up, or shows up damaged, and now I've got to wait, again, for a courier (to collect) and then a third time often days later) to redeliver. Add to that the time on the phone or writing enails, and you have an example of why I will nearly always buy local, and in person, rather than mail-order, unless either the item(s) aren't available locally, or the price difference is substantial.

Also, by "substantial", I mean the monetary amount not the percentage difference. 50% premium on a £1 widget is not substantial (to me) but 20% of a £2000 camera is.

The difference, it seems, between you and me is that you place a much higher value on the price premium, whereas I place a much higher value on convenience, avoidance of the risk of courier hassle, and my time.

It's nothing to do with desperation. It's a personal preference to avoid mail-order unless there's a VERY good reason not to. A quid or two on price is not, for me, such a reason.

[DanceswithUnix]

I do wonder what Maplin's mission statement must be. I am going for:

"Stock random c**p and cross your fingers someone buys it at twice the going rate."

I bought my 3D printer direct from the manufacturer in Prague, but filament etc I will happily buy anywhere. You would have thought that was the sort of thing that Maplin would be good for, you want some blue PLA and you want to print that blue part now, so worth a few quid premium. You can buy filament from Maplin and at first glance the price looks OK, but then you realise if you buy from Amazon it is £30 for a kilo but Maplin it is £40 for *half* a kilo. But here's the kicker, most of it is Internet order only, you can't just go to the store and grab some.