Fri, 22 Jul 2011 | ADMINISTRATION
Three weeks after entering administration, the hunt for a new owner for beleaguered retailer TG Hughes continues.
The administrators, Tom Jack and Simon Allport of Ernest & Young, have spoken to 30 interested parties, but no sale has, as yet, been forthcoming.
Attempts to find a new owner are pressing on, though it is expected that a number of TG Hughes’ 56 stores will be closed down.
Liquidator GA Europe purchased the retailer’s £10 million debt pile last week, and is managing the clearance sales at all of the stores.
The department store chain, which retails branded homeware, electricals, toys, clothing and beauty products at discounted prices, entered administration on 30 June no longer able to cope with the effects of a loss in “credit insurer confidence”.
The jobs of the 4,000-strong workforce have been left hanging in the balance, while the administrators persevere in their search for a buyer.
The Business Sale Report reported the previous owner’s failed attempts to bring the retailer back to growth, in late June. Private equity group Endless had owned the retailer for three months before handing it over to the administrators, as consumers continue to keep their wallets in their pockets.
The company designs and delivers electronic portfolios for organisations that capture and assess evidence for personal, professional, and organisation recognition, internationally. The company creates leading digital solutions that mirror and enhance...
A distributor of oils and ancillary cleaning products to a wide client base, and is not dependent on any one client or market sector. These Items are an essential component to ensure smooth operation of equipment and reduce wear & tear and reduce ope...
The company is an equestrian business comprising a popular retail store, accredited livery and riding facilities and a competitive events operation, operating from an attractive rural location in the East Midlands.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.