Founder of Hughes & Hughes aims to reopen some bookshops

DEREK HUGHES, the founder of bookshop chain Hughes & Hughes, has put together a group of investors in a move to reopen some of the chain’s Dublin stores.

The group went into receivership in February.

However, a number of other interested parties are believed to be in negotiations with landlords over the leases of former Hughes & Hughes high-street stores.

It is understood that Eason is at an advanced stage of negotiation in relation to stores considered to be in the most attractive locations.

In late February, Ulster Bank moved on the Hughes & Hughes chain with the appointment of Deloitte’s David Carson as receiver. At the time the chain blamed the unwillingness of landlords to reduce rents and the impact of online book sales as contributory factors.

Mr Carson closed the chain’s high-street stores, while Eason took over seven former Hughes & Hughes airport outlets, five in Dublin and two in Cork.

Since the chain went into receivership, speculation has grown in the publishing industry that Mr Hughes intends to try to reopen some of the Dublin stores.

Industry sources said yesterday that Mr Hughes hoped to resume operating in as many as six of his former stores.

In addition to outlets in Stephen’s Green Shopping Centre, Dún Laoghaire and Nutgrove Shopping Centre in Rathfarnham, the chain had expanded its presence in the capital ahead of its collapse by opening stores in malls such as the Santry Omni Park Shopping Centre, Pavilions Shopping Centre in Swords and Dundrum Town Centre.

Many of those outlets opened at the peak of the boom at rents prevailing at that time.

Mr Hughes’s plans are not thought to extend to stores that had been based outside Dublin.

To begin trading again, Mr Hughes would have to persuade at least some wholesale book distributors to supply stock. As many of his creditors expect to be significantly out of pocket as a result of the receivership, this will involve substantial negotiation.

While some publishers and distributors are unwilling to supply Mr Hughes, others have expressed their goodwill and support for his plan.

Jean Harrington of Meath-based publishers Maverick House welcomed the news. “Competition is necessary for any industry. Booksellers are our customer and we regret the closure of any of them,” she said.

“It would be great to see them come back into the market. Hopefully they’ll be able to.”