Media statement regarding Tobar Group Holdings Limited (T/A Tobar, Hawkin's Bazaar & Letterbox) (In Administration) – Second Business Update
Friday, 6 January, 2012 - 17:48
6 January 2012
TOBAR GROUP HOLDINGS LIMITED (T/A TOBAR, HAWKIN'S BAZAAR & LETTERBOX) (IN ADMINISTRATION) – SECOND BUSINESS UPDATE
The Joint Administrators of Tobar Group Holdings (The Group) regret to announce the closure with immediate effect of an additional 14 permanent Hawkin's Bazaar retail units which will affect 123 store employees. Unfortunately, there will also be an additional 17 redundancies at The Group’s head office in Worlingham, Suffolk.
Commenting on the announcement, Joint Administrator Peter Saville said the following:
“Despite today’s regrettable decision regarding the additional store closures and redundancies, we remain hopeful of achieving a sale of the underlying business. We will be looking to work with potential interested parties during the course of next week with a view to identifying the best possible outcome for creditors and other stakeholders”.
Stores to be closed with immediate effect:
Stores that remain open at time of announcement:
Northcote Road, Wandsworth
Notes to suppliers
All suppliers who believe they are creditors of Tobar Group companies should make contact with the administration team via the following email address email@example.com. Please include details of your claim and full contact details.
Notes to Editors
For all media enquiries, please contact:
Tel: +44 (0) 7799 477733
About Zolfo Cooper
This press release and “Zolfo Cooper” refer to Zolfo Cooper LLP. Zolfo Cooper LLP is a leading international provider of corporate advisory and restructuring services. Headquartered in London, with offices throughout the UK and affiliations in North America, The Caribbean, Continental Europe, Asia and Australasia we have extensive experience of assisting companies and their stakeholders across a wide range of situations from complex-cross border cases through to mid-market engagements.