Hawkins Bazaar Norwich store is sold but 480 jobs are lost at Beccles-based Tobar
Around 150 jobs have been saved with the sale of toy and gift retailer Hawkin's Bazaar and its Suffolk-based parent company Tobar Group, it has been confirmed.
Most of the 65 Hawkin's Bazaar stores, including those in Ipswich and Bury St Edmunds, were closed following the appointment of administrators shortly after Christmas. Around 480 people are understood to have been made redundant, including workers at the axed stores and a number of staff at the group's head office, near Beccles.
However, the administrators have now confirmed that the eight remaining stores, which include branches in Braintree and Norwich, together with the group's remaining stock, its trading names and its wholesale and online businesses have now been sold to the existing management, supported by majority shareholder Primary Capital.
Peter Saville, a partner at administrators Zolfo Cooper, said: 'We are extremely pleased to have secured the sale of the group which puts it on a firm footing for the future. We wish the group and its owners all the best for the future.'