Retailer Phones 4u Forced into Administration

Mobile phone retailer Phones 4u has been forced into administration, placing over 5,500 jobs at risk as its shops are shuttered across Britain.

The company said its stores will be closed on Monday until administrators decide whether the business can open again for trading.

Owned by private equity firm BC Partners, the retailer has 550 shops and employs 5,596 people.

The company said it was forced into administration after network EE declined to renew its current contract, following a similar decision by Vodafone earlier this month.