Jobs at four stores in the county are at risk today as electronics retailer Maplin has gone into administration.
Maplin, which has stores in Lincoln, Grimsby, Boston and Scunthorpe, announced on Wednesday, February 28, that it has called in administrators after being unable to secure new funding through a rescue deal.
The electronics retailer currently employs around 2,500 people across 217 stores in the UK.
It has been confirmed that trade will continue as normal while a potential buyer continues to be sought.
This comes after toy retailer Toys R Us UK announced that it had gone into administration earlier this morning.
Chief executive for Maplin, Graham Harris, said: “I can confirm that it has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process.
“During this process Maplin will continue to trade and remains open for business.
“The business has worked hard over recent months to mitigate a combination of impacts from sterling devaluation post Brexit, a weak consumer environment and the withdrawal of credit insurance.
“This necessitated an intensive search for new capital that in current market conditions has proved impossible to raise.
“These macro factors have been the principal challenge, not the Maplin brand or its market differentiation.
“We believe passionately that Maplin has a place on the high street, and that our trust, credibility and expertise meets a customer need that is not supported elsewhere.”