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TJ Hughes on brink of collapse
TJ Hughes has filed its intention to appoint an administrator, bringing another UK high street stalwart to the brink of administration. The Liverpool-based business, which has operated since 1912, has 57 department stores nationwide and employs around 4,000 staff. The stores, which sell branded items at discounted prices, was bought by private equity group Endless three months ago, but is understood to need a £30m cash boost. Accountant Ernst & Young is understood to be ready to take control.