ELECTRONICS retailer Maplin has gone into administration after failing to find a buyer.
The nationwide chain has a branch at the Trafford Retail Park in Redditch, part of a portfolio of more than 200 stores employing more than 2,000 staff.
The collapse was blamed on the fall in the pound following the Brexit vote, a slow down in consumer spending and a withdrawal of credit insurance said the BBC.
Administrators Price Waterhouse Cooper (PwC) have now been engaged to try and find a buyer to save jobs at the troubled business.
PwC said staff had all received their salaries for February and the stores would open as normal during the administration period.
Maplin has 11 stores across the West Midlands, at Redditch, Walsall, Kidderminster, Merry Hill, Solihull and Cannock, plus four in Birmingham.
The news is the latest blow to hit Redditch after retailer Marks and Spencer announced they were pulling out of the Kingfisher Shopping Centre earlier this year.