TJ Hughes stores sold

THE administrators of retailer TJ Hughes, owned by Leeds-based turnaround investors Endless, have announced a deal to sell off four of the company’s stores to Lewis’s Home Retail.

The deal will see the firm, part of Liverpool-based Bemross Group, take on four TJ Hughes stores, including its flagship outlet at London Road in Liverpool as well as outlets in Sheffield, Glasgow and Eastbourne.

Tom Jack, joint administrator of TJ Hughes and a restructuring partner at Ernst & Young’s North West office, said: “We are delighted to have exchanged contracts on this deal, which saves 442 jobs and continues the TJ Hughes legacy in Liverpool, as well as in other locations across the UK.”

He added that they were continuing to seek a buyer for the remaining business and assets of the 57-strong chain as a going concern.

Endless bought TJ Hughes in January but was unable to turn the company around and it went into administration last month.