Hawkin's Bazaar latest victim of punishing retail climate
Tobar Group, owner of novelty gift retailer Hawkin's Bazaar, has become the latest victim of harsh trading conditions, filing an "intention to appoint administrators" yesterday.
Employing 500 people and with net debt of £42m at the end of June last year and an annual pre-tax loss of £3.5m, it has been speculated that the group expanded too quickly in a punishing retail climate.
Administration for the group could see it join jeans retailer D2 which called in the administrators two days ago following tough Christmas trading, as well as La Senza which announced plans to enter administration last week, Blacks Leisure which has speculated administration, and Past Times which is also struggling.