Sept 14 (Reuters) - UK mobile phone retailer Phones 4u saidit is seeking the appointment of administrators fromPricewaterhouseCoopers after its key partner EE notified thecompany that it would not be renewing its network agreement.
The contract, which ends in September next year with theUK's biggest mobile operator EE - which comprises T-Mobile and Orange, was crucial to the business forPhones 4u after it lost a similar contract with Vodafone GroupPlc earlier this month.
The company, majority-owned by private equity firm BCPartners, said the unexpected decisions by both Vodafone and EE"have come as a complete shock to the business."
The decision has led Phones 4u to shut all of its 550 storesthat employ about 5,600 workers, until a decision by theadministrators is made on whether the business can be reopenedfor trading, the company said.
"Today is a very sad day for our customers and our staff. Ifthe mobile network operators decline to supply us, we do nothave a business," Chief Executive David Kassler said in astatement.
The process of the appointment of an administrator is underway and is expected to occur on Monday, the company said. (Reporting by Aurindom Mukherjee in Bangalore; Editing by EricWalsh)
Vodafone (VOD)