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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