Gift and toy retailer Hawkin’s Bazaar has entered administration, placing 177 jobs at risk.
Tom Straw and Simon Thomas from Moorfields Advisory Ltd have now been appointed as joint administrators of the toy shop chain.
Hawkin’s Bazaar was founded in 1973 and currently operates 20 stores across the UK and Ireland. Moorfields Advisory said that the chain had faced a “challenging” Christmas period, which was “reflective of the struggling high street retail sector”.
Despite entering administration, the advisory firm said that stores will continue trading “until further notice”, though the majority of stock will be subject to clearance discounts and other promotions.
The firm also said that existing gift cards and exchanges will “continue to be honoured on a limited basis”, though no further gift cards will be sold from today (24 January).
Meanwhile, it will not be possible to issue cash refunds, and website sales have also been suspended.
Tom Straw, partner at Moorfields Advisory, said: “Hawkin’s Bazaar is a retail brand with a strong heritage both on the high street and online.
“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.”
In a brief statement, Hawkin’s Bazaar said: “The business and property of Hawkin’s Bazaar Limited are being managed by the Joint Administrators who, together with their staff, act as agents of Hawkin’s Bazaar Ltd and contract without personal liability.”