ADMINISTRATORS from Zolfo Cooper have had to cut more than 300 jobs at toy retailer Hawkins Bazaar.
Tobar, owner of Hawkins and Letterbox appointed Peter Saville, Fraser Gray and Anne O’Keefe, from Zolfo Cooper, as joint administrators.
The business, which is headquartered in Suffolk, is a retailer and wholesaler of toys and gifts operating out of 65 stores as well as various websites. At the time of administration Tobar employed 380 staff.
However, the administrators have closed 40 stores and six concessions resulting in the loss of 302 jobs and a further 35 redundancies in the head office.
“It is clear from our analysis that a significant portion of the Hawkin’s Bazaar estate is not viable in today’s exceptionally challenging retail environment,” said Saville.
“Our focus now is on the remaining 25 permanent stores as well as the group’s internet, wholesale and direct selling operations. We consider that there remains a saleable core underlying business within the group and we have received a number of expressions of interest which support this view.”
The administrators have announced that contrary to most administrations gift vouchers will continue to be valid at the remaining stores.
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