Housewares Business-to-business magazine for housewares retailers and their suppliers
The administrators of discount department store retailer TJ Hughes have sold four of its stores.
The flagship Liverpool, Eastbourne, Glasgow and Sheffield outlets have been bought by Liverpool retail business Lewis’s Home Retail, part of Speke-based supplier Benross Group.
The deal means that 442 jobs will be saved. Upon completion of the sale, employees in the four stores will transfer to Lewis’s Home Retail.
Ernst & Young joint administrator Tom Jack said: “We are delighted to have exchanged contracts on this deal, which saves 442 jobs and continues the TJ Hughes legacy in Liverpool, as well as in other locations across the UK.”
The administrators say they are still looking to sell the remaining business and assets as a going concern, whilst continuing to trade stock through the whole of the group’s 57-strong store portfolio.
However, as part of the four-store sale deal the Benross Group has acquired the TJ Hughes brand and the website, tjhughes.co.uk.
Anil Juneja, managing director of the Benross Group – which is a supplier of homewares, electrical items, toys and leisure products -commented: “TJ Hughes is an extremely well-known and much-loved brand and we’re thrilled to be bringing the retailer back to life. The stores have a proud history, especially in Liverpool, and our aim is to do both the employees and customers the justice they deserve.”
TJ Hughes went into administration on June 30, putting 4,000 jobs at risk.
July 25 saw the closure of the firm’s Liverpool warehouse distribution centre, with the majority of workers made redundant with immediate effect.
