Fri, 24 Jan 2020 | ADMINISTRATION
Norwich-based novelty toy retailer Hawkin’s Bazaar has called in administrators to take over the business. Tom Straw and Simon Thomas, partners at Moorfields Advisory, have been appointed as joint administrators for the company, which was initially put up for sale in August 2019.
Hawkin’s Bazaar employs 177 staff across 20 stores and is headquartered in Yare House on Thorpe Road, Norwich. It operates across the UK and Ireland and has its main warehouse in Eye, Suffolk.
The administrators have said that all stores will continue trading until further notice and that much of its stock will be subject to clearance discounts and special promotions.
Gift cards and exchanges will still be honoured on a limited basis as long as stores remain open, but no further gift cards will be sold nor will cash refunds be issued. All website sales have also been suspended.
“Hawkin’s Bazaar is a retail brand with a strong heritage both on the high street and online,” joint administrator Tom Straw said.
“Unfortunately, despite making changes to their offering to appeal to the shift in modern buying patterns, the retailer still struggled to compete with online retailers such as Amazon, etc.”
The company was founded in 1978 by the late Sid Templer.
The company provides an extensive range of used cars and add-on services, such as spray painting, bumper replacement, MOTs, and wheel replacement.
FREEHOLD
Represents an opportunity for an acquirer seeking a retail outlet entailing a grocery, a bakery and an off licence.
LEASEHOLD
Presenting a freehold convenience store & petrol station, boasting a turnover of £18,000 per week trading 0700 - 1900. The business comes with a large three bedroom flat (above shop), and a separate forecourt, parking and garage.
FREEHOLD
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