Hawkin’s Bazaar and Tobar on the brink of administration
The Suffolk-based company behind toy shop Hawkin's Bazaar is on the brink of going into administration.
Tobar, which has its headquarters at the Old Aerodrome in Ellough, near Beccles, today filed a notice of intent to appoint administrators.
The company, which employs 380 people and has 65 permanent shops nationally including one in Castle Mall Shopping Centre in Norwich and Buttermarket Shopping Centre in Ipswich, is expected to go into administration in the coming days.
Partner of the London-based proposed administrators Zolfo Cooper Robin Knight said: 'When it goes into administration we will have to look at various options. The preferred option is for us to sell part or all of the business.'
He added: 'In common with a significant number of other retailers it (Tobar) has experienced exceptionally difficult trading conditions over the past few months. The directors have taken a number of steps to turn the business around but they have concluded that in its current guise they have no alternative but to seek administration.'
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Tobar was founded in 1973, as a supplier and development centre for toys, gifts and gadgets. The company develops products, sources toys and gadgets, creates packaging and provides storage and logistics.
Hawkin's Bazaar started as a local toy shop at the Hawk Inn and became a niche mail order company in 1973.
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