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This week we heard news that R3’s Business Distress Index indicates that one in ten retailers believe they will enter administration over the coming 12 months, whilst Hub became the latest casualty as Rent Day loomed.
Following the collapse of the mid-market variety chain; we bring to you an overview of the retailer’s trading over the years and highlights of the collapse:
5/03/2010 – Poundland co-founder Dave Dodd revealed ambitions to develop a national 200-store mid-market variety chain. Dodd had plans to increase shop numbers to 30 by the end of 2012.
23/04/2010 – Retailer was looking to open its first two stores in Hark Group's Telford Shopping Centre in Shropshire and at Capital Shopping Centre's Arndale Centre in Manchester
16/07/2010 – Hub signed for the 10,000sq ft Telford store which opened at the end of August
5/08/2010 – Hub implemented an EPoS system that will support its expansion
26/11/2010 – Owner Dodd said that both shops were "trading very well" and said the retailer has "the potential for substantial growth".
6/12/2010 – Retailer announced second opening will be the 13,000sq ft flagship store in Manchester's Arndale centre.
28/09/2011 - Hub has collapsed ahead of the rent quarter day on 29 September. In total, 57 jobs across the firm’s head office and four branches have been lost.
Retailer Profile
Poundland co-founder Dave Dodd revealed ambitions to develop a national 200-store mid-market variety chain designed to be a general merchandise equivalent to TK Maxx. Merchandise included hardware, homewares, stationery, gadgets, greetings cards, electricals, toys, confectionery and fashion accessories.
There were four stores located in Manchester, Telford and Stafford. The first store in Telford opened in 2010.
It was announced in September 2011 that Hub had collapsed into administration.
As the 29/09/11 retailer’s website has not been updated with this information with a mention of retailer seeking to open new stores across England and Wales.
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