Jobs saved as retail stores bought out of administration

Multiple jobs have been salvaged as seven shops belonging to a stationery retailer have been bought out of administration by a rival company, a recent news report in the local media has been able to reveal.

Blott Retail called in administrators in April after efforts to secure investment or a buyer for the business fell through.

The group operated 15 stores in Tunbridge Wells, Cambridge, Cardiff, Sheffield, Guildford, Milton Keynes, Norwich, Oxford, High Wycombe, Essex (Lakeside), Leeds, Dudley, Reading, Watford and Windsor. It also operated out of a head office/warehouse facility in London and reported revenues of almost £4.7m for the year ended 31 December 2014.

Under the aforementioned deal, seven of Blott Retail’s shops – Cambridge, Cardiff, Guildford, Milton Keynes, Norwich, Oxford and Sheffield – were sold to rival stationery retailer Tinc on 13 May.

Unfortunately, the company had to close its eight remaining stores and its head office, resulting in approximately 70 job losses.

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