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:

Aberdeen
Barnstaple
Basingstoke
Bluewater
Bristol
Bromley
Cardiff
Cheltenham
Chester
Ealing
Hereford
Leamington Spa
Poole
Southampton

Stores that remain open at time of announcement:

Braintree
York
Bath
Edinburgh
Northcote Road, Wandsworth
Croydon
Milton Keynes
Birmingham Bullring
Stratford, London
Yeovil
Norwich

ENDS

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 hawkinsbazaar@zolfocooper.eu. Please include details of your claim and full contact details.

Notes to Editors

For all media enquiries, please contact:

Robin Knight
Tel: +44 (0) 7799 477733
rknight@zolfocooper.eu

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.

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