News

Specialist gadget shops washed away by mainstream competition

A bold attempt to create a gadget shop chain in the UK has ended in disappointment for phone pioneer John Caudwell, who has wound up the "Must Have It" retail outlets, making 400 staff redundant -- according to reports in today's edition of Mobile News.

The paper says that the substantial investments made by Caudwell last year after he took over the failed Discovery Store chain, have been rendered pointless by the popularity of gadget sections in supermarkets and department stores.

Reporter Sherella Folkes writes: "The Christmas trading period was hugely disappointing, partly because 2004 was a generally poor retail Christmas, and partley because many department stores had moved into the gadget market for this crucial period."

The Discovery Store failed in 2001. Mobile News says that the relaunch last year "showed great promise" at first, but competition meant that its investment couldn't be justified.