TJ Hughes debt acquired by GA Europe
Restructuring specialist GA Europe has bought out the debt from TJ Hughes, the department store that went into administration at the end of last month.
Retail Week spoke to joint administrator Tom Jack for Ernst & Young, the company dealing with TJ Hughes administration. He 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.”