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TJ Hughes files for administration
01 Jul '11
2 min read
Discount department store chain TJ Hughes has filed an intention to appoint an administrator after a supplier threatened to file a winding up notice against the company.
Endless, the private equity firm that owns the business said the move was a precautionary measure to give the retailer more 'breathing space' but reports suggest it is very unlikely that administration will be avoided.
The Liverpool based retailer has 57 stores located throughout the country and employs over 4,000 people.
John Gorle, Usdaw National Officer said:
"This will be devastating news for our members but sadly it won't have come as a complete shock to most of them as they have been at the sharp end of the company's recent and urgent attempts to reduce costs."
"The company has assured Usdaw that they will continue to pay staff as normal and that there are no immediate plans for any store closures or redundancies."
"Usdaw firmly believe TJ Hughes still has a place on the high street and we will continue to work closely with the company and if necessary any administrators to safeguard jobs and to secure a sustainable long term future for the business."
Usdaw (the Union of Shop, Distributive and Allied Workers) is the UK's fourth biggest and fastest growing trade union with over 400,000 members. Membership has increased by more than 17% in the last five years and by nearly a third in the last decade. Most Usdaw members work in the retail sector, but the union also has many members in transport, distribution, food manufacturing, chemicals and other trades.
Endless, the private equity firm that owns the business said the move was a precautionary measure to give the retailer more 'breathing space' but reports suggest it is very unlikely that administration will be avoided.
The Liverpool based retailer has 57 stores located throughout the country and employs over 4,000 people.
John Gorle, Usdaw National Officer said:
"This will be devastating news for our members but sadly it won't have come as a complete shock to most of them as they have been at the sharp end of the company's recent and urgent attempts to reduce costs."
"The company has assured Usdaw that they will continue to pay staff as normal and that there are no immediate plans for any store closures or redundancies."
"Usdaw firmly believe TJ Hughes still has a place on the high street and we will continue to work closely with the company and if necessary any administrators to safeguard jobs and to secure a sustainable long term future for the business."
Usdaw (the Union of Shop, Distributive and Allied Workers) is the UK's fourth biggest and fastest growing trade union with over 400,000 members. Membership has increased by more than 17% in the last five years and by nearly a third in the last decade. Most Usdaw members work in the retail sector, but the union also has many members in transport, distribution, food manufacturing, chemicals and other trades.
Usdaw (the Union of Shop, Distributive and Allied Workers)
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