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Department store in talks on its future.

Budget department store TJ Hughes confirmed yesterday it is in take over talks with a number of parties.

The chain, which includes outlets in Wolverhampton, Lichfield, Kidderminster and Coventry, said it had been approached from an interested outside body. No formal offer has been made as yet.

Following the approach, the Liverpool-based retailer invited its current management team to make a counter offer, a spokesman revealed.

'The board will issue a further statement in due course,' the company said yesterday. 'In the meantime, shareholders are advised to take no action.'

T J Hughes' 35-strong outlets stretch from Glasgow to Eastbourne, with the Midlands and the North-West key geographical zones.

The company's last yearly results in January showed pre-tax profit of pounds 40.2 million on a turnover of pounds 157 million.
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Publication:The Birmingham Post (England)
Date:Nov 27, 2001
Words:131
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