City shop under threat after owner calls in administrator
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A branch of a stricken chain of toy shops in a Preston shopping centre is under threat after its owner called in administrators.
Tobar, which owns the Hawkin’s Bazaar which has a branch in the Fishergate Shopping Centre, appointed administrators Zolfo Cooper on Friday to try and find it a buyer.
The move put the future of the chain, which has 65 stores including one in Blackburn town centre employing 380 full-time staff, under threat.
A spokesman for the administrator blamed “exceptionally challenging trading conditions” for the chain’s collapse and said it would continue to trade the stores as it seeks a buyer.
He said: “The directors have worked very hard to turn the business around but have concluded that administration is the best route forward.”
The business will continue to be traded as a going concern by the administrator but a further 55 “pop-up” Hawkin’s stores, which opened over Christmas and employ some 400 temporary staff, will be closed in coming days in line with its previous plans.
Hawkin’s was set up in 1973 and sells unusual toys, gifts, games, gadgets and curiosities.
It becomes the latest victim of the spending slowdown on the high street with administrators running shoe shop Barratts yesterday admitting they are looking at breaking up the chain.
Fashion chain D2 Jeans appointed administrators earlier this week and there is speculation lingerie retailer La Senza and outdoor wear shop Blacks Leisure, which also owns the Millets brand, will go up for sale.
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Wednesday 23 May 2012
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Comments
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Diesel10
Saturday, December 31, 2011 at 02:55 PMQuarterley rents are due so you always seem to get a spike of chains going into administration. Some shops just seem to have over stretched themselves, feeling the need to have a presence on nearly every high street when there is no need.
Stand Cloggin
Saturday, December 31, 2011 at 10:10 AM"under threat after its owner collapsed" Is this the best phrase? , How is he? is he in the RPH? or should it have been" the chaps business empire collapsed."I find too many articles in our beloved newspaper follow this modern day trend and not enough proof reading goes on.It would cost very little to tighten up this situation.
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