JR Taylor, an independent department store in Lytham St Annes, was put into administration yesterday by the offshore trust Howjow Investments.
The trustees have appointed Duff & Phelps to manage the interim period. Staff have been assured it is business as usual, as a new owner for the store is actively sought.
Hilary Cookson and Henry Shepherd from Maureen Cooksons in Whalley have acted for the past five years as consultants for Howjow in the store, charged with restoring it to former glory.
Cookson remarked that over the past five years the store has seen double digit sales growth year on year and the store is looking in great shape with a highly focused team and a clear customer message in all departments.
“JR Taylor is an anomaly in the portfolio and so, having achieved a turnaround, the trust feel it is time to consolidate,” she said. “Henry and I have thoroughly enjoyed the challenge over the past five years and look forward to concentrating on our own business in 2015, as we have a major refurbishment beginning in January within the store and are now developing our delicatessen and cafe bar concept even further.”