Housewares Business-to-business magazine for housewares retailers and their suppliers
The “tough retail environment” has taken its toll of discount department store chain TJ Hughes, which has collapsed into administration.
The company filed a notice of intention to appoint administrators last week. The move puts 4,000 jobs at risk across TJ Hughes’ 57 stores.
Joint administrator Tom Jack, of Ernst & Young, said: “The retail environment has been particularly tough during the first six months of this year and TJ Hughes has struggled against a backdrop of reduced consumer spending and increased competition.
“Whilst management have tried to reinvigorate sales performance and control costs, it has unfortunately not been possible for the business to continue to trade outside of insolvency.”
The administrators are seeking offers for the sale of the business as a going concern.
Jack added: “TJ Hughes will continue to trade as we look for a buyer of the chain. It is very much business as usual and we are grateful to the chain’s loyal customers, employees and suppliers for their continued support.”
TJ Hughes was founded in 1912 and its head office is based in Liverpool.
