TJ Hughes and Jane Norman are the latest casualties of reduced spending on the high street, as both have gone into administration putting thousands of jobs at risk.

Liverpool based retailer TJ Hughes has 57 stores across the country and has 4,000 employees. The company has filed an intention to appoint an administrator, just three months after being acquired by private equity group Endless. It is thought that the company needed a £30 million cash injection which Endless could not provided, and Ernest and Young are now expected to take control.

Jane Norman fell into administration over the weekend and closed its 89 UK stores after it failed to find a buyer.  The company employees 1,600 staff and has been struggling with reduced sales.

Administrator Zolfo Cooper is currently working on the terms of a pre-pack administration agreement for Jane Norman, and some analysts believe TJ Hughes could also go through a similar package.

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Troubled restaurant chain V8 Gourmet has gone into administration, following a compulsory liquidation winding-up order.

The group owns the Bombay Bicycle and Tiffinbites restaurants and is 30% owned by Bollywood actress and Celebrity Big Brother winner Shilpa Shetty.

She pumped £6million into the business in 2009 before deciding to step down as director in 2010.

Re10 have been appointed administrators and are confident that they will find a buyer for the company.

Nimish Patel from the Re10 said: “At present no changes are to be made, and we are working hard to secure the jobs of all 264 employees. We are at an advanced stage of discussions with an interested party with regard to the business.”

HMRC issued V8, which also produces a range of ready meals and chutneys for Tesco and has an airline catering arm, with the winding-up order in May 2011.

Citri, a specialist mortgage and protection firm based in York, has been placed into liquidation.

The financial planning company, which offers advice to all consumers, will be put into liquidation on 4^th July.

A liquidator has not yet been appointed but reports claim the corporate recovery and insolvency firm Begbies Traynor will be chosen following the collapse of a rescue deal.

The plan to save the company would have meant it would have been placed into administration but instead it will enter liquidation. A third party was looking to buy part of or all of Citri but nothing came to fruition.

A plan had been made to transfer all 138 of Citri’s advisors to Openwork, the UK’s largest multi-tie mortgage and financial advice network comprising more than 2,000 financial advisers. However, the deal fell through.

At the time Openwork said it was in talks with the North-East firm to look for ways its advisors could continue to trade but whether or not the firm was looking to rescue Citri is not known.

It is reported a number of advisors have contact Mortgage Strategy, the financial trade website dedicated to the mortgage intermediary, saying they are still owed thousands of pounds in outstanding commission.

It is believed all secured creditors have been paid. Preferential creditors need to be paid before assessing whether there are funds left for unsecured creditors, such as the advisers.

A number of former Citri advisers have reportedly received emails from the network reassuring them that they will be paid for business placed through its wealth management arm, Citri Wealth Management but the situation regarding commission owed from its financial arm Citri Financial Planning is not yet known.

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HMV has been saved from liquidation for now by a massive refinancing deal with its lenders which is worth £220 million.

The chain has been struggling to compete with online retailers and supermarkets offering cheaper price CDs and DVDs, and recently had to sell off Waterstones to a Russian billionaire for £53 million.

The new refinancing deal sees them take on two separate loans of £70 million and £90 million, as well as a £60 million credit facility which can be called upon if needed.

They now plan to close some of their stores and convert 150 of the larger stores into centres selling electronics, apps and downloadable entertainment to try and compete with online retailers.

However, business experts are not sure if the refinance deals and revamped stores will be enough to keep the company in business, and how the company performs this Christmas period will have a significant impact on if they stay afloat or not.

Mesh Computers, a PC manufacturing company based in London, has slid into administration after the firm ceased trading at the end of May.

The long-time UK PC builder fell into receivership by the chartered accountant firm MacIntyre Hudson who are now the administrators; and now its assets have already been bought by PC Peripherals, although the exact terms of sale have not been revealed.

Mesh Computers apparently lost its footing in the marketplace and struggled as other tablet devices such as the Ipad won in popularity with consumers up and down the country.

The PC and laptop website is still live and active and orders from hereinafter are still being fulfilled but reportedly the firm PC Peripherals will appear on any invoices.

However, the administrators warn current customers to look for a refund, arguing: “If you have made a payment via credit card for goods and / or services due to be delivered by Mesh Computers and these goods have not yet been received then you should contact your credit card provider immediately to discuss the possibility of a refund.”

MacIntyre Hudson’s company press release informs all creditors of the company who are owned money, that “you will receive formal notification of the administration and how to make a claim shortly.”

Paul Davis, one of the appointed administrators, said that this was a hardship that was facing other companies in the industry too.

But Reza Jafari, owner and company director at the component distribution firm PC Peripherals, is optimistic about the firm’s future, saying: “Mesh Computers’ 25 year history of manufacturing in the UK is a solid foundation to build from and we are looking forward to investing and moving into our next phase of growth.”

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