Partly Cloudy

Partly Cloudy

max temp: 10°C

min temp: 5°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.

shares

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.

shares

0 comments

Teen robbed of phone and bike

Police are appealing for help to find two men who robbed a teenager at knifepoint.

Suffolk Fire and Rescue crews called to fire at Stowmarket home

Police have arrested a man on suspicion of arson and affray after a fire was started at a Suffolk home and officers threatened with a knife.

Trains cancelled due to lack of driver

A number of trains have been cancelled this evening due to an absent driver.

Suspected gas explosion on Federick Road in Gorleston.

 Picture: James Bass

Two people have been taken to hospital following a suspected gas explosion near Lowestoft.

David Murton (L to R) Paul Whiting and Bill Barton in front of the main telescope at the Orwell Astronomical Society. Photograph Simon Parker

Astronomy enthusiasts will be gathering outside Isaacs on March 20 to view the celestial event - and you are invited to join them.

The Ormiston mini marathon at Trinity Park in 2014

This weekend’s Ormiston Families Children’s Marathon has been postponed.

Police called to scene of road collision

Police have been called to the scene of a collision between a car and a motorcycle on a road near Sudbury.

The new community cinema launched in St Mary's Church in Bury. Joanna Rayner and Rev Cannon Malcolm Rogers are pictured.

A Bury St Edmunds church is turning into a cinema as it intends to hold free community film events over the coming year.

@TheRec in Stowmarket

Six buildings in Suffolk are in the running to win awards dished out by the Royal Institute of Chartered Surveyors.

Cobbolds Point, Felixstowe, by Peter Smith, is on show as part of the Suffolk Creative Photographic Group exhibition at Woodbridge Library during March

From broody compositions to sun-kissed scenes – an exhibition of photographs currently on display at a Suffolk library has a bit of everything to offer.

Most read

Most commented

Topic pages