A planning statement with the application reads: “Unfortunately, the result of a drastic downturn in trade, compounded by the direct effects of Covid, led to the nationwide closure of the JTF chain of stores with the Hucknall branch closing its doors to the public in July 2021.
What is JTF Hucknall now?
But the JTF brand has now been bought by Poundstretcher and Hucknall is one of ten stores to be re-opened initially. At the time of the closure announcement, staff at the Hucknall store said the news of the closure was like ‘breaking up their family’.
Have all JTF stores closed?
It fell into administration last summer after all 14 of its stores shut, leading to about 500 redundancies.
Has JTF Hucknall reopened?
Shortly after, however, budget retailer Poundstretcher acquired JTF and reopened the store in September. It has now been revealed, in a planning application submitted to Ashfield District Council, that the site is going to be closed once again at the end of March 2022.
Who has bought JTF?
Poundstretcher’s owners have bought JTF Mega Discount Warehouse from administrators. The stores have been acquired by Bargain Buys, a subsidiary of Poundstretcher, which launched a CVA rescue plan last year. The deal includes JTF’s brand and other assets, and could see nine stores reopened.
What is happening on JTF?
JTF Mega Discount Warehouse has closed its stores, including one in Rotherham, having collapsed into administration. Established over 40 years ago, and with a recent turnover of circa £60m, JTF had been struggling to manage debts accrued as a result of the worsening retail climate and excessive head office costs.
Has JTF Walsall closed down?
A home and garden store that opened at a cost of £1.5 million in the Black Country has closed its doors after five years.
What does JTF stand for?
a. The Joint Task Force (JTF) is the primary organization for joint operations.
Do you need a membership card for JTF?
The best part of all of this is that at JTF Mega Discount Warehouses, everyone is welcome; all you need is one of our free memberships to shop in-store. Once you have a card, you are one of the first to know about all of our unmissable offers.
Is JTF going into administration?
Nottinghamshire-baseed discount retailer JTF has been bought out of administration, saving 230 jobs. Poundstretcher boss Aziz Tayub has bought the stricken chain and has revealed plans to expand the JTF brand by opening 15 new branches.
Are Poundstretcher stores closing down?
But the discount store confirmed today (Tuesday, March 8) that the stores are not closing down, but instead had a half price sale ahead of new stock and new lines being introduced into stores. A spokesperson for Poundstretcher said: “We can confirm they [The Fort and Kings Heath stores] are not closing down.
Why is JTF Leeds closed?
Bargain store JTF Mega Discount Warehouse in Leeds is ‘permanently closed’ after the company which owns it collapsed. The company has entered into an insolvency procedure called a corporate voluntary arrangement, according to Companies House.
What does JTF sell?
JTF is a 40-year-old retailer that sells a wide range of general merchandise, including homewares and garden furniture, alongside food & drink in its out-of-town warehouse-style stores.
Has Poundstretcher took over JTF?
Poundstretcher is closing its eight JTF Mega Discount Warehouse stores which it reopened after buying the brand out of administration last year. The discount chain had reopened a handful of stores and wanted to open another 15 following the acquisition.
What is Poundstretcher called now?
Poundstretcher has begun converting stores to JTF, after rescuing the collapsed discount chain from administrators in September. A Poundstretcher and Pet Hut in Margate, one of the variety discounter’s larger stores, is among the first to be rebranded.
Is Poundstretcher going into administration?
Poundstretcher experienced a loss-making period at least a year before the coronavirus pandemic hit, making the issues worse. It is in the directors’ intention to put the retailer into administration before the decision is made on the CVA.
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