Phones 4u founder blames network suppliers, private equity owners
September 16 , 2014
John Caudwell, the founder of Phones 4u, has said that private equity owners and cellular network suppliers were responsible for the shutting down of the retailer chain.
He said many networks simply refused to supply to Phones 4u, as part of a strategy to tackle competition and get better margins.
“It's dreadful for British business,” Caudwell said, adding that it gave the country a “terrible reputation”, destroyed jobs, and made it a “terribly unhealthy environment” for business.