Pwc administrators have confirmed the sale of Phones4U

Administrators at PwC have confirmed the sale of 58 Phones4U stores to the EE mobile network, a week after the chain was placed into administration, after EE joined Vodafone in cutting ties with the company.

EE decision not to renew its contact was due to the lack of long-term viability of Phones4U and stated their strategic focus was to consider growth in direct channels rather than encourage growth in indirect channels.

The deal agreed by the administrators at PwC states EE will pay £2.5 million for the stores preserving 359 jobs. This transaction comes after the announcement on Friday that Vodafone will acquire 140 Phones4U stores and will re-employ 887 staff. The retailer Dixons Carphone has said they will take on 800 Phones4U staff employed at 140 concessions within Currys and PC World stores.

The administrators at PwC have said that they consider this to be the best outcome for creditors in these circumstances, but they are awaiting the approval of the UK courts.

The future of the remaining Phones4U staff and stores is expected to be confirmed soon.