The administrators are in, 550 stores will not open today and 5,500 jobs are at risk – Phones 4U is going bust. And folks are talking a load of rubbish about what happened and blaming evil corporates for all sorts of matters, utterly unfairly.
Essentially Phones 4 U has no product to sell any more. Both Vodafone and EE have opted to stop using it as a middleman so the stores now have “No phones 4 U.” For the Venture Capitalists at BC Partners who spunked away £600 billion buying a majority stake in this firm in 2011 from another VC who bought it from founder John Caudwell for £1.5 billion in 2006, welcome to an easy lesson about retailing “if you are merely a reseller from monopoly or oligopoly providers you have no power.”
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