TJ Hughes closing down, but only if you believe their advertising
When a company slides into administration, it doesn't necessarily mean the business will cease trading. Often, the administrators will run the company as a going concern in the likelihood of selling it on to an interested party.
For example, discount store TJ Hughes has nearly 60 stores across the country and employs around 4,000 staff. When the chain went into administration at the end of last month, Ernst and Young were appointed as administrators, the stores continued trading and Ernst and Young have made no indication that they are closing them, preferring instead to look for a new owner.
So why are T J Hughes advertising the fact they are closing down?
According to the Blackpool Gazette, the administrators have said the stores are having a stock clearance sale, but the way TJ Hughes has gone about promoting it isn't necessarily above aboard. As Bitterwallet's consumer champ Len Dastard recently pointed out, trading regulations are clear that retailers can't tell consumer they're closing down in order to heighten interest when they're not.
[Blackpool Gazette] thanks to avid Bitterwallet reader Lawrence