Phones 4u Ltd.’s administrator said that it will close 362 stores and cut almost 1,700 jobs as the failed U.K. mobile-phone chain sells off its assets to pay bondholders and salaries, Bloomberg News reported yesterday. PricewaterhouseCoopers LLP, which was appointed administrator last week, said the sale of an additional 198 shops and 160 concessions to former carrier partners EE Ltd., Vodafone Group Plc and retailer Dixons Carphone Plc has been approved by the courts, in a statement yesterday. The buyers will take on about 2,000 staff members.
