T J Hughes Limited (00224422): administration
- Status
- Administration ended
- Administration began
- 2011-06-30
- Administrators' firm
- EY
- Formerly
- T. J. Hughes PLC; T.J.Hughes & Company Limited
- Incorporated
- 1927-09-14
- Location
- Manchester
- Industry
- 5212
Why it went into administration
- Credit insurance / supplier credit withdrawn
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Parent or group failure
- Sustained trading losses
From the administrators' statement
At the time of the appointments, the Group was regarded as one of the largest department stores in the UK, trading from 56 stores nationally with ¢ 3,500 employees in total It traded as a discount retailer selling products with prices up to 70% below RRP.
The Group's head office and management functions were operated from leasehold premises at ' Hughes House, Liverpool, where 129 head office staff were located The Group also had ' operations at two warehouses tn the Liverpool area that held minimal stock.
The original business was founded in 1912, on London Road tn Liverpool The company floated on the London Stock Exchange in 1992, and was taken private in 2000 by JJB Limited before being acquired by PPM Capital in 2003 The Group refinanced with Burdale via a €20m stock and loan facility in early March 2011 and was subsequently acquired by Endless LLP, a turnaround investor. The Group has had several senior management changes in the past nine months to support an attempted turnaround
Administrators' statement of proposals (2011-08-22) · Companies House register