Maplin sold for £244m

  Newuser38 15:36 04 Sep 2004
Locked

The Guardian tells us today that that Barnsley based electronics retailer Maplin has been sold to private equity group Montague for £244m. Is that likely to affect us 'valued customers' who have found their web based sales and the customer service in their stores to be of a very high standard, and their pricing attractive to us pensioners.?

  smokingbeagle 16:09 04 Sep 2004

They have excellent customer service now which may deteriorate but any professional retail manager would look closely at their shop policies ie outlets in very expensive areas, using up large amount of floor space with low value items, "sales" every month - I know that if I wait a couple of months, the item I want will be heavily discounted by them - trying to emulate the failed model of the Tandy shops of a few years ago. I've no idea how they make a profit or expand. I would hate to see their excellent customer service and delivery service dropped for cost cutting.

  Forum Editor 16:18 04 Sep 2004

would be grim indeed. Anyone who has ever had any dealings with their extremely knowledgeable store staff knows what an efficient organisation they are. I hope this news doesn't sound a death knell for the Maplins I've grown to rely on over the years.

  pj123 16:32 04 Sep 2004

Could also be good news. My local paper "business section" says: Montagu plans to open 59 new Maplin stores over the next three years. So looks like they are keeping the name (and hopefully, the staff). The store I use (Norwich) has always been very helpful to me. Notice it is Montagu (no e on the end). Also says that Maplin's directors, led by Mr Caldwell and chairman Dr Keith Pacey, will reinvest a significant proportion of their proceeds back into the business.

  Newuser38 21:17 04 Sep 2004

It is apparently estimated that the directors will end up with £40m each.

  spuds 11:12 05 Sep 2004

Reading the media article of the sell-out,the previous owners are still holding an interest in the company, by re-investing some of their cash from the sale.This can only be a good thing, as no shareholder likes to lose money on a suspect business.

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