Administrators appoint GA Europe to sell stock at TJ Hughes
Ernst & Young, the administrator at TJ Hughes, has appointed GA Europe to sell stock throughout the 57 strong chain of stores.
GA Europe, part of the Great American Group, will help trade stock in case Ernst & Young are unable to find a buyer for all of the stores.
Ernst & Young said it was encouraged by the strong level of interest in the failed department store chain from potential buyers.
Tom Jack, the joint administrator at Ernst & Young, 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.”
He added: “Promotional activity will, therefore, commence immediately in all TJ Hughes stores.”
The future of the 4,000 staff members at TJ Hughes will remain uncertain while the search for a buyer goes on.
