Property consultants PRPC hired to help sell 362 Phones 4u stores

Property consultants PRPC hired to help sell 362 Phones 4u stores

Bidders interested in Phones 4u’s 362 remaining stores are being urged to 'make early contact' with property consultants PRPC, appointed by the administrators today.

Prime Retail Property Consultants (PRPC) has been appointed by Phones 4u’s administrators to advise them on how to maximise the value of the collapsed retailer’s remaining portfolio of 362 stores.

PRPC is calling on interested parties for the remaining stores to get in touch promptly.

The announcement follows news earlier today that the administrators had decided to close the remaining 362 Phones 4u stores after concluding talks with potential bidders.

A spokesman told Mobile negotiations with potential bidders for the 362 stores, ‘had gone as far as they could.’

Bidders included EE which took on 58 stores and their staff and Vodafone, which grabbed 140 stores as well as hiring the store staff.

In a statement the administrators said: ‘Following the joint administrators' difficult decision to close a large number of stores, Jonathan Haigh, real estate director at PwC, has confirmed the appointment of Prime Retail Property Consultants as advisers to the joint administrators on the Phones 4u property portfolio.

Prime Retail's role is to assist the joint administrators' team in the identification and realisation of value from the leasehold estate.

Tim Hance, Prime Retail partner and assignment leader encourages prospective new occupiers and Landlords seeking lease surrenders to make early contact.’



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