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UK’s Phones 4u administration puts 5,596 jobs at risk

UK’s Phones 4u administration puts 5,596 jobs at risk

September 15, 2014

Via: mobile
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(Reuters) – British mobile phone retailer Phones 4u [PHONE.UL] is seeking administrators, putting 5,596 jobs in jeopardy, after the countrys biggest mobile operator EE joined Vodafone in not renewing its network agreement. The contract with EE, which comprises T-Mobile and Orange, was crucial to Phones 4us future after it lost Vodafones contract earlier this month, leaving the company with EE as its only partner. If the mobile network operators decline to supply us, we do not have a business, said Phones 4u Chief Executive David Kassler. Phones 4u, majority-owned by private equity firm BC Partners [BCPRT.UL], said it was seeking the appointment of administrators from PwC [PWC.UL] and its 550 UK stores would not open on Monday, pending a decision by the administrators on whether the business can be reopened for trading.