By Razak Musah Baba
LONDON--U.K Cellphone retailer Phones 4u confirmed Friday that
Vodafone U.K. will take on 140 of the Phones 4u stores, preserving
887 jobs for store employees.
Phones 4u, which entered administration this week, said stores
will be rebranded to Vodafone stores over the coming weeks
following a period of transition.
"Whilst this deal remains subject to the approval of the U.K.
courts, we are confident that this represents the best available
transaction for the company's creditors," said Rob Hunt, joint
administrator and PwC partner.
Phones 4u earlier this week also announced the transfer of more
than 800 staff to Dixons Carphone, the retailer behind PC World and
Currys.
Owned by private equity group BC Partners, Phones 4u has 550
stand-alone stores, employing 5,596 people.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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