Gadget Shop goes bust

A fierce shareholder row has pushed The Gadget Shop - the high street chain best known for its range of gifts and gadgets - into administration.

More than 700 jobs at the company are at risk after its board of directors failed to agree on a rescue plan following disappointing sales over Christmas.

A publicly-quoted firm hoping to buy the business walked away last week.

The Gadget Shop has made a name for itself by selling anything from rechargable massagers to novelty soft toys and night-vision goggles. Executive chairman-Chris Gorman has spent the past weeks looking for a solution and accountants PKF are expected to take over as administrators from today.

A spokesman for Gadget Shop said: "It is extremely regrettable that The Gadget Shop has to be put into administration.

"Chris Gorman's number one concern is for the staff of the company and he will be working hard with the administrators to find a buyer."