TJ Hughes owner to appoint administrators
TJ Hughes owner, Lewis’s Home Retail Holding, has filed notice that it will appoint administrators for its outlet business. The firm also owns Paul Simon Curtain Superstores outlet divisions.
A report was issued this weekend stating eight stores will be included in the filing, with the move representing only a “small number” of the retail firm’s total stores across the UK.
In the report, the company said: “We are extremely saddened by the need to take this decision, and it hasn’t been taken lightly. However, the retail world is changing quickly, and it is necessary for our business to evolve."
"We need to embrace this change to ensure our remaining businesses can grow strongly, at the same time we have to have the correct cost base, which is why we have to work very hard on our landlord relationships."
Since the initial announcement at the weekend, two of the stores have been saved from administration after a deal was struck with the landlords. There are no present expectations for the remaining six stores to be saved, but the company remains "optimistic".
Lewis’s Home Retail Holding owns 18 TJ Hughes branded department stores nationally, as well as its online platform.