Lichfield’s TJ Hughes will remain open while administrators look for a buyer for the business.
The company announced its intention to enter administration earlier this week and Tom Jack and Simon Allport from Ernst & Young have now been appointed Joint Administrators for the company, which employs more than 4,000 staff and operates 57 stores in the UK.
Mr Jack said a tough start to the year had been behind the downfall of the company. He explained:
“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. While 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.”
“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.