EE to buy 58 Phones4U stores for £2.5m

Mobile operator EE will pay £2.5m to buy 58 Phones 4u in a deal with administrators of the stricken company which entered administration last week.

The agreement with PwC, the phone retailer administrators, will save 359 jobs and comes after Vodafone announced on Friday that it would acquire 140 stores, safeguarding 887 jobs.

Over 5,600 workers across 560 stores have been affected by Phones 4u’s collapse, which the company blamed on EE and Vodafone’s decision not to renew their contracts while a further 160 concession outlets have also been put under threat.

EE said the stores and their 359 employees will be transferred with immediate effect, while the stores will be re-branded to the EE and will open next week.

Dixon Carphone previously announced it would ensure the 800 staff who worked the concession outlets within Currys and PC World shops will remain employed.