skip to main content
  • *
  • *
  • *
Find Insight DIY on
* * *

UK DIY News

TJ Hughes stock sale pending as Focus DIY liquidator drafted in

TJ Hughes, the Liverpool-based discount department store chain, moved a step closer to the precipice of closure as it brought in liquidators Gordon Brothers to sell its stock.

The move raises concerns the business will not be sold as a going concern, which would have protected some of the group's 4,000 staff.

TJ Hughes was acquired by Endless, a specialist in company turnarounds, in March. But the company hired Ernst & Young as administrators last month to look for a buyer and E&Y have now appointed Gordon Brothers.

The liquidators' role could extend to closing stores after their stock has been sold. Gordon Brothers is already involved in closing hundreds of do-it-yourself Focus DIY stores after just 55 were sold by its administrators, also Ernst & Young.
The news from TJ Hughes will deepen the gloom on the High Street from which many British household names are disappearing.

Source : The Daily Mail
www.thisismoney.co.uk/money/news/article-2011704/TJ-Hughes-sale-pending-Focus-DIY-liquidator-Gordon-Brothers-drafted-offload-stock.html?ito=feeds-newsxml

06 July 2011
view more UK DIY News
*

I find the news and articles they publish really useful and enjoy reading their views and commentary on the industry. It's the only source of quality, reliable information on our major customers and it's used regularly by myself and my team.

*
Simon Fleet - Sales & Marketing Director, Thomas Dudley Ltd
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry