Sad news for the UK toy collecting scene, the final ModelZone stores left after the company fell into difficulties earlier this summer have been forced to close.
Here’s what Toy World Mag had to say.
All 18 remaining Modelzone stores are to close with the loss of 126 jobs after administrators Deloitte were unable to find a buyer for the model retailer.
The administrators confirmed the closures after failing to find a rescuer for the West Sussex company. The following stores will close in the middle of September 2013; Bromley (eight jobs), Harrogate (five), Birmingham (ten), Brighton (six), Croydon (eight), Kingston (six), Gateshead (eight), Basingstoke (eight), Rochester (11), Newcastle (seven), the Lakeside Centre in Essex (six), Milton Keynes (six), Chester (six), Derby (seven), Reading (six), Glasgow (seven), Cambridge (five) and Eastbourne (six).
Richard Hawes of Deloitte said: “We sought to find a potential buyer for some or all of the stores, but unfortunately no viable offers have come in since our appointment two months ago. ModelZone has been generating losses over the past few years, largely through an increase in online competition and having taken leases on new stores that proved to be unprofitable. Once again, we would like to thank the company’s employees for their support and professionalism during this time.”
Best of luck to all staff affected by the closures.