TJ Hughes’ new owners have hired investor Anthony Solomon as executive chairman.
Solomon has been drafted in by Endless, the turnaround investor which backed the acquisition of the discount department store chain by its management last month. He has worked with Endless on a number of its deals.
Solomon has also taken a “significant” stake in TJ Hughes. David Luper, Solomon’s business partner, also joins the board with primary responsibility for buying.
Solomon said: “This is a tremendous opportunity, the business will be 100 years old next year and has fantastic customer loyalty.
“People like the business, however it’s only as good as the product and value that is on the shelves and improving that is exactly what we are good at.
“Regrettably the customer proposition has not been good enough recently, but Endless, David Luper and I have a first class track record in buying and turning loss making retailers around and we are confident for the future of TJ Hughes.
“There is a big challenge ahead but we are all looking forward to it.”