MaxiDeals, a convenience-focused discounter that launched during the pandemic in 2020, has ceased trading suddenly and entered liquidation.
MaxiDeals sold fmcg from well-known brands spanning food and drink, household, cleaning, and health & beauty, along with general merchandise.
Originally called MaxiSaver, the retailer opened its first store in Hinckley, Leicestershire, in August 2020, and quickly found the format to be popular.
Under the ownership of importer and wholesaler J&E Group, the chain changed its name to MaxiDeals in 2022 and grew to 24 stores, spread widely across the UK, with offices in London.
MaxiDeals entered voluntary liquidation on 18 February after it was agreed at a general meeting that it could not continue trading thanks to liabilities, records at Companies House show. Eric Walls at KSA Group was appointed liquidator.
Paul Mathers, the chain’s managing director from launch, and a former director of operations at Poundstretcher, told The Grocer MaxiDeals had ceased trading “very suddenly” in a “really tough trading environment on the high street, accompanied with rising costs”.
The retailer was still opening stores as recently as September last year.
Mathers also posted an update on his LinkedIn profile saying: “MaxiDeals was a new startup discount retail business backed by investors, where I was given the responsibility of opening its retail locations across various parts of the UK.
“We opened these stores during very challenging times with the Covid outbreak just starting, however we did manage to get to 24 stores.”
The liquidator was not available to comment.
The Grocer has approached J&E Group for comment.
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