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Retail Spotlight – TJ Hughes store closures- Updated

 

Posted At: 12 August 2011 00:24 AM
Related Categories: Administrations, Retail, Store Closures

 

Following the collapse of TJ Hughes; we bring to you: update on store closures and highlights of the administration
 

TJ Hughes Shop Front11/08/11 – TJ Hughes closed its Salford store after looters vandalised property and stole goods and TJ Hughes in Middlesbrough, Preston, Southend, Bristol, Kings Lynn, Newport, Ipswich and Maidstone will also all shut down between August 16th and 18th, resulting in the loss of 474 jobs
 

10/08/11 - Some 134 retail jobs were secured after the administrators announced that they have sold another two of the company’s stores (Widnes & Newcastle) to Lewis’s Home Retail
04/08/11 – TJ Hughes will close 22 stores by the end of 14th August resulting in the loss of 1,061 jobs
 

Store Locations Last day of trading
Shrewsbury August 10th 2011
Birkenhead, Dumfries, Dundee, Rochdale, Widnes, Wolverhampton August 11th 2011
Stretford August 13th 2011
Bolton, Boscombe, Burnley, Chester, Crawley, Hull, Kettering, Kidderminster, Macclesfield, Nuneaton, St Helens, Walsall, Watford, Weston-super-Mare August 14th 2011

 

 

 

 

 

 

01/08/11 – 4 stores sold to Lewis's Home Retail including flagship store in London Road, Liverpool, together with stores in Eastbourne, Glasgow and Sheffield
22/07/11 - Around 100 TJ Hughes employees were made redundant after a shock announcement that the retailer’s distribution centre in Liverpool is to close
07/07/11 - Administrators E&Y of collapsed retailer TJ Hughes said that it was encouraged by the strong level of interest in the retail business and its stores
06/07/11 – Retailer called in liquidator to sell off the stock
• 30/06/11 - TJ Hughes collapsed into administration - Sir Philip Green, Primark and B&M Bargains expressed interest in stores
28/06/11 - TJ Hughes filed an intention to appoint an administrator
28/04/11 - The retailer's chief executive Beatrice Lafon was replaced after 3 months by Bob Lister
21/04/11 - Anthony Solomon, who together with turnaround investor Endless invested an unknown amount in the business for a significant stake
15/04/11 – Endless appointed Anthony Solomon as executive chairman
01/04/11 – New owner, Endless made efforts to put the value department store group on a firmer financial footing
25/03/11 – Discount department store was refinanced and sold to restructuring specialists Endless
11/03/11 – Retailer refinanced using an asset based facility giving it access to working capital
17/11/10 - During the 52 week period ended 30 January 2010 total sales increased by £5.4m to £266.7m. Gross profit increased by £5.0m with gross profit percentage rising from 36.5% to 37.6%
12/11/10 - TJ Hughes has named Beatrice Lafon as its new chief executive
07/06/10 – Department store chain pulls sale process
16/04/10 - TJ Hughes put up for sale with a £70m price tag
21/11/09 – Retailer opens new store in Walsall
09/11/09 – Discount chain TJ Hughes appointed bankers Hawkpoint to advise on options including a possible sale
 

As at 11th August 2011 retailer’s website is operational with a closing down sale and says ”…The affairs, business and property of TJ Hughes Limited (In Administration) are being managed by the Joint Administrators, S Allport and T A Jack who act as agents of TJ Hughes Limited (In Administration) only and without personal liability
 

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Comments...

Really sad news about TG Hughes and all those people loosing their jobs. They are similar stores to woolworths and seem a bit out of date- however still think they have a great range of products




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