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Retailers
September 25, 2018
Parent company decides to pull the plug on GRS after two years of ‘significant’ trading losses
Gadget Repair Solutions (GRS) has opened its doors for the last time following two years of “significant trading losses”.
In a statement made by the owner of the repairer, AmTrust Financial Services, took the decision to pull the plug on the company because it did not have the confidence it could survive in the industry.
Mobile News understands that customers of GRS have received an email and also been assured that any ongoing business will reach a conclusion and all debts will be settled.
The email read: “We are being closed down by our parent company AmTrust. All outstanding payments will be made.”
The repair company was founded in 2012, was bought by AmTrust in May 2014 and has since gone on to offer the public mobile and gadget repairs, new and used devices and the ability to trade in an old device.
AmTrust said in a statement: “During the last six month GRS has reviewed its business operations, following significant trading losses over the last two years.
“During that time, working with our staff, we explored many different ways to adapt to the very competitive nature of the UK and European market, but despite our best efforts and the best efforts of the staff we have not been able to achieve the critical volume of mobile phones for repair and refurbishment needed to support GRS as a go-forward business or find a sustainable operating model for the company.
“Therefore we have made the difficult decision to exit from the mobile phone repair market and to close GRS, including its Southend facility.”