// TJ Hughes owner to appoint administrators for its outlet business
// Two stores have saved from administration on Monday
// The retailer is thought to be negotiating rent reductions with landlords
Lewis’s Home Retail Limited, a subsidiary company of LHR Holding Ltd, and currently operating as the TJ Hughes Outlet Division and Lewis’s branded stores, has submitted notice of intention to appoint an administrator.
This affects only a small number of stores, and the majority of the remaining TJ Hughes stores are unaffected by this announcement.
Two stores have been saved from administration on Monday after a deal was struck with landlords.
READ MORE: TJ Hughes slammed for selling thousands of fake Fred Perry polo shirts
The retailer is thought to be negotiating rent reductions with its other landlords.
Last week, the business submitted notice of intention to appoint an administrator for a “small number” of its stores nationwide.
It said it was set to shut its Vicar Lane branch in Chesterfield, as well as its branch on The Moor in Sheffield.
“We are extremely saddened by the need to take this decision, and it hasn’t been taken lightly. However, the retail world is changing quickly, and it is necessary for our business to evolve,” The directors said.
“We need to embrace this change to ensure our remaining businesses can grow strongly, at the same time we have to have the correct cost base, which is why we have to work very hard on our landlord relationships.”
“As a result of this reorganisation, the group will be on a far sounder footing and able to further protect its remaining businesses by being able to explore other strategic acquisitions, which will bolster the strength of the group, save jobs and provide greater security for the remaining group.”
TJ Hughes first went into administration back in 2011.
LHR Holding Limited owns 18 TJ Hughes branded department stores nationally, as well as tjhughes.co.uk, and they are not affected by this announcement.
Click here to sign up to Retail Gazette‘s free daily email newsletter
