Four outlet department stores that were part of Lewis’s Home Retail have been bought out of administration in a management buy-out.
The TJ Hughes Outlet Division (which was owned by Lewis’ Home Retail) went into administration last week (28 February). Four stores have now been sold through a pre-pack sale to LHR Holding Limited, with staff transferred as part of the transaction. Five smaller outlet stores have closed.
LHR Holding Limited owns 18 TJ Hughes branded department stores nationally, as well as tjhughes.co.uk. These are not affected by the recent development.
Springfields Advisory LLP ‘s Situl Raithatha, joint administrator commented: “Sadly failures on the High Street are all too common place. The sector has seen significant structural change and the environment continues to be challenging. We are pleased to have completed the sale which has helped secure the future of a significant proportion of the workforce.”
Top: LHR Holdings – the owner of TJ Hughes branded department store (logo pictured) has bought four TJ Hughes outlet stores out of administration.
