ModelZone administration: stock reduced by 10 to 30%

We've just heard that ModelZone stores are currently advertising a "total stock liquidation" sale, with items reduced by between 10 and 30%. A picture we've seen shows the recently opened flagship store in central London emblazoned with garish posters, covering up the previously fantastic displays of models. What a sad turn of affairs.

Earlier this week, Retail Week reported that ModelZone has made 20 redundancies at its headquarters in Sussex - reducing the workforce from 70 to 50. Staff in ModelZone stores are currently unaffected by these redundancies... guess they need someone to man the tills during the liquidation sale.

This latest news follows:

• update from Hornby to investors to calm fears it would be affected by ModelZone's administration
• information that gift vouchers were only being accepted towards 50% of the value of goods
• news that Deloitte had been appointed joint administrators

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