CRISIS hit department store T J Hughes has launched a ‘fire sale’ in a bid to sell off stock cheaply, including at its Doncaster branch.
T J Hughes’ administrators Ernst and Young, has appointed retail consultants GA Europe to advise on the sale of stock in the retailer’s 57 shops. The decision is a contingency in case a buyer is not found to take over the company.
However, administrators are confident a buyer can be found after holding talks with 30 parties.
Tom Jack, administrator, said: “We are already in discussions with over 30 interested parties and we are encouraged by the strong level of interest in the business and its portfolio of 57 stores.”
“However, there are significant stock levels and we therefore must ensure we are also pursuing a strategy to trade this stock through the business, in case we cannot find buyers for all of the company’s stores and employees. Promotional activity will therefore commence immediately in all TJ Hughes stores.”