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Sushi Chain Turns to Gadgets |
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The private equity firm behind the Yo Sushi restaurant chain, Primary Capital, has bought in to a major retailer of toys and gadgets.
Gadget retailers The Tobar Group occupy similar territory to The Gadget Shop which went into administration late last year, although Tobar certainly offer a more diverse range of products than its erstwhile competitor. The group has been trading for over 30 years via its Hawkins Bazaar brand and offer a fascinating mix of the bizarre and practical. Their tag line is ‘Things you thought had gone for ever. Things you never even knew existed’ – a fair summary of their product offering. The deal is expected to fund a huge 5-year expansion of the Hawkins Bazaar chain across the UK, the plan being to add 100 stores to the current 22 nationwide. The group plans to open 15 new stores by the end of 2006 and will utilise a portion of the finance package to expand its mail order and online operations too. Primary Capital are also currently masterminding a similar expansion of the Yo Sushi chain.
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