Jobs are saved in store takeover
JOBS at a Hartlepool store have been saved after a deal to buy out a discount chain.
Administrators from The P&A Partnership have sold the UGO discount store group to the Poundstretcher organisation.
Bosses have described the move as a “pre-pack” deal which will save 245 jobs including those at UGO’s branch in Skerne Road on the Oakesway Trading Estate in Hartlepool.
While the exact number of jobs at the Hartlepool branch are not known, all of the 245 workers employed at UGO’s 20 stores have transferred to the new business.
As well as Hartlepool, the company also has five outlets in Hull, and others in Bury, Retford, Carcroft, Ashington, Blackburn, and Burnley.
It also has stores in Middlesbrough, Nuneaton, Stanley, Athersley, Kirkby, Liverpool, Rotherham and Bradford.
John Russell and Gareth Rusling were appointed joint administrators to UGO yesterday and sold the business immediately on appointment.
Mr Rusling said: “We are pleased that we have been able to rescue the business and save so many jobs, particularly given the tough economic climate for the retail sector.
“Poundstretcher is a strong brand with a growing High Street presence.”
The stores including the Hartlepool branch were formerly owned by Netto but were taken over by UGO and opened under that brand in January last year.
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Tuesday 22 May 2012
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