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Liverpool store chain TJ Hughes to call in administrator

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Liverpool store chain TJ Hughes to call in administrator

Post  Mr007 on Wed Jun 29, 2011 3:49 am

Liverpool store chain TJ Hughes to call in administrator


Department store chain TJ Hughes has said it is planning to appoint an administrator after reporting a downturn in trade.

The Liverpool-based firm employs more than 4,000 people at its 57 stores across England and Wales.

The homewares, menswear and beauty retailer said it would bring in the administrator over the next 10 days.

It was bought out by its management team in March following the withdrawal of credit insurance for its suppliers.

The buy-out was funded by Leeds-based turnaround specialist Endless.

It is not yet known what long-term impact the move will have on jobs at the company, which was founded in Liverpool in 1912 by Thomas Hughes.

A TJ Hughes spokesman said the shops would remain open and staff would continue to work for the time being and that a potential buyer was being sought.

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