Hughes & Hughes founder in talks over Dublin stores
The original founder of Irish bookchain Hughes & Hughes has put together a group of investors, in a bid to re-open some of the retailer’s Dublin stores.
The Irish Times reports that Derek Hughes is one of “a number” of interested parties understood to be negotiating with landlords over the high street leases. Citing “industry sources”, the paper claimed Hughes “hoped to resume operating in as many as six of his former stores”, all based in Dublin.
However, the paper also suggests negotiating with wholesalers to supply stock could be tricky, as many will be creditors that are “significantly out of pocket as a result of the receivership”.
Eason is also thought to be “at an advanced stage of negotiation, in relation to stores considered to be in the most attractive locations”, the newspaper said.
Hughes & Hughes went into receivership in February, blaming high rents and competition from online retailers as contributory factors. Ulster Bank appointed Deloitte’s David Carson as receiver, who went on to close the high-street stores. Eason took over seven former Hughes & Hughes airport outlets. Last week The Bookseller reported last week that W H Smith was eyeing further expansion in Ireland following the trial of three new branches at Dublin airport.