Preferred bidder chosen by Bennetts administrators

The administrators of electrical retailer Bennetts have entered exclusive negotiations with a potential buyer.

Partners at PKF, who were appointed joint administrators of the Norwich-based firm on March 10, have selected a preferred bidder and entered into a 'short exclusivity period' while a possible sale is negotiated.

No details of the proposed sale or possible buyer have been disclosed but PKF said it expected to provide further information early next week.

All other interested parties have been notified and the remaining 57 staff have been informed of the current situation.

The administrators have also expressed thanks to staff, customers, suppliers and landlords for their 'support and patience during this difficult period'.

On March 12, the administrators announced 228 redundancies. All 16 stores, 14 of which are in East Anglia, remain closed.

Customers with queries are asked to call a helpline on 0845 4582000.

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