A SOUTHAMPTON store popular with gizmo geeks is still up and running after its parent company went into administration - but jobs remain at risk.

The clock is now ticking for the handful of staff at the WestQuay branch unless a buyer is found for the collapsed Gadget Shop chain.

One white knight intent on riding to the rescue has already pulled out of talks to acquire the stricken business.

Game, the computer games retailer headquartered at Basingstoke, shied away amid fears of being dragged into a bitter legal dispute dividing Gadget shareholders.

Gadget, which has 65 UK shops and employs 700 people, is currently being run by administrators PKF.

Although not in genuine financial difficulty, the chain has been placed into the hands of 'company doctors' because some directors want it sold, while others oppose the move.

Ten stores were immediately shut in a bid to streamline operations, including ones in London, Watford, Inverness and Swindon.

The Daily Echo understands that at least 40 companies have expressed an interest in taking on the business, and that no deadline has been set for offers.

A member of staff for Gadget said: "The Southampton store is still up and running." No other statement was released.

Potential buyers include rival chains or private equity groups.

However, the well-documented slowdown in consumer spending, which has hit the retail sector hard, may prove off-putting.

The Gadget Shop, which also has a local outlet at Festival Place, Basingstoke, sells items from computer games and videophones to electronic gadgetry and executive toys.