Retailing | 6:56 July 30, 2010 | Pete Dodd | Print this story

Games retailer Chipsworld goes into liquidation

Games retailer Chipsworld said it has entered liquidation, resulting in 29 job losses at head office and further redundancies caused by 12 UK store closures. It said 13 franchised stores and the www.chipsworld.co.uk website will continue trading.

In a statement, Directors Nik Agar and Don McCabe said the company had battled against “the credit crunch, mounting unpaid debts and the recession”.

They said the liquidation affected Chipsworld Ltd, 63-65 Borough Road, Middlesbrough, and its company stores at Middlesbrough, Darlington, Redcar, Bishop Auckland, Northallerton, Consett, Chester Le Street, Orpington, Letchworth, Portslade, Edinburgh, Hereford & Kirkham, which are closed.

Stores not linked to the liquidation, the statement said, are in Stockton, Stafford, Hartlepool, Arnold, Yeovil, Guisborough, Chorlton, Newcastle-Under-Lyme, Ashford, Ormskirk, Dudley, Longton and Market Harborough.

“All will continue trading and their customers and service will not be affected in any way,” the statement said.

On Dec. 31, 2009, the business entered a Company Voluntary Arrangement in an effort to continue trading.

“Unfortunately, the recession has lasted far longer and bitten far harder than anticipated and Chipsworld Ltd has been unable to continue trading,” the statement continued. “Many of its customers, particularly in the North-east of England have been badly affected by the recession and to continue trading would only increase the company’s debts further.”