Sunny

Sunny

max temp: 24°C

min temp: 14°C

ESTD 1874 Search

Hawkin’s Bazaar toys and gifts company bought out of administration

14:52 23 January 2012

The Hawkin

The Hawkin's Bazaar shop in the Buttermarket, Bury St Edmunds, which is among those closed by the firm's administrators

Archant

TOYS and gifts retailer Hawkin’s Bazaar is understood to have been bought out of administration by its biggest shareholder.

Hawkin’s Bazaar and its parent company, Tobar, based near Beccles, fell into administration shortly after Christmas, since when around 480 shop workers and head office staff have been made redundant.

The admistrators, from London-based Zolfo Cooper, have closed most of the company’s 65 retail outlets, with only seven listed on the Hawkin’s Bazaar website today as still trading.

These include branches in Braintree and Norwich, while stores in Ipswich and Bury St Edmunds are among those closed.

According to reports, the administrators have now agreed the sale of the remaining shops, together with the Hawkin’s Bazaar website and an associated wholesale business, to private equity firm Primary Capital.

Primary Capital acquired a 50% stake in the Tobar Group in 2006, in a deal valued at £42million, and is understood to remain its biggest shareholder. The deal was also been backed by Lloyds TSB, which invested £22m.

The Hawkin’s Bazaar chain expanded rapidly in the following years but, together many other retailers, has experienced tough trading in recent months amid the squeeze on consumer spending from muted wage growth and high inflation.

Search hundreds of local jobs at Jobs24

0 comments

Giffords Hall Vineyard feature. Including the use of drone technology to measure crop yield. Pictured is owner Linda Howard.

Vineyard owners in Suffolk and Essex say their industry has grown so quickly over recent years that the region may soon follow famous French appellations in seeking protected status for its wines.

Households are still spending more on leisure, but younger consumers a worried about their future finances following the vote for Brexit.

Britain’s households increased their spend on leisure activities last month, but many are concerned about the future impact on their finances from the vote to leave the European Union.

European Union Competition Commissioner Margrethe Vestager speaking during a media conference at EU headquarters in Brussels.
Photo: AP Photo/Virginia Mayo

Technology giant Apple has vowed to overturn a record 13bn euro (£11.1bn) bill after a European Commission ruling that it has an illegal “sweetheart” tax deal in Ireland.

The newly rebranded Fenwick store, previously Williams & Griffin, in Colchester.

Colchester’s new-look Fenwick department store is to be officially unveiled on September 15 following a £35m redevelopment.

12-20 Upper Orwell Street, which could be demolished and regenerated if plans by the East of England Co-op go through

A derelict building in Upper Orwell Street which has been empty for decades could be set for demolition if new plans for the area are approved.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24