Hawkin’s Bazaar in administration

Peter Saville, Fraser Gray and Anne O’Keefe of Corporate Advisory and Restructuring specialists Zolfo Cooper were appointed Joint Administrators of Tobar Group Holdings Limited and its subsidiaries (The Group) on December 30, 2011.

Headquartered in Worlingham, Suffolk, The Group operates as a retailer and wholesaler of toys and gifts via a network of 65 permanent retail stores, websites and direct selling. At the time of appointment The Group employs approximately 380 permanent staff nationally.

Commenting on the appointment, Joint Administrator Peter Saville said: “In common with many retailers The Group has experienced exceptionally challenging trading conditions of late. At this stage we intend to continue to trade the component parts of The Group whilst we seek a buyer for all or parts of its operations.

“We will be working closely with all relevant stakeholders to ensure that we identify the best possible outcomes regarding preservation of jobs, the value of the business and returns to creditors. As this work continues we will seek to make further announcements as appropriate”.

Hawkin’s Bazaar customers in possession of gift vouchers may continue to exchange these for goods as normal in any of The Group’s stores. Those customers seeking to make returns should look, wherever possible, to visit their local store where they will be permitted to exchange their goods. Cash refunds will not be provided. A full list of store locations and opening times can be found at www.hawkin.com.