Reuters- UK mobile phone retailer Phones 4u said it is seeking the appointment of administrators from PricewaterhouseCoopers after its key partner EE notified the company that it would not be renewing its network agreement.

This is after both Vodafone and O2 declined to renew their contracts with the retailer. 720 shops could close and 6,000 staff could lose their jobs.

This is bad news for the high street and for consumers. Dixons Carphone will soon have no competition and a free reign on pricing if Phones4U cannot be saved.

Source – Reuters