Manweb pulls out of retail sales

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Manweb, the Manchester-based electricity company has pulled out of the cut-throat electrical retailing market at a cost of £16m. The company has sold its five loss-making out-of-town superstores to Scottish Power and will cease selling electrical appliances in all 58 high street shops.

The shops will be converted to bill-paying centres. Up to 200 staff are expected to accept voluntary redundancy terms. The move follows the decision by East Midlands and Yorkshire Electricity to sell their Homepower division in January.