Jobs at risk at troubled UK entertainment chain
21/08/2007 - 08:32:42Hundreds of jobs were under threat at entertainment retailer ChoicesUK today after the group admitted it had failed to secure the future of the ailing business.
ChoicesUK, which has its HQ in Peterborough, England and employs around 1,800 people, said attempts to sell the firm or strike a refinancing deal had fallen through and administrators would now be called in “as soon as possible”.
The news comes as ChoicesUK has struggled amid a declining market for CDs and DVDs.
The firm, which has around 170 stores across the UK, warned in April that it would see bigger-than-expected losses, despite launching a swingeing cost-cutting drive. The stores continued to trade today.
