It was announced today that a buyer had been found for 12 of Joy's 28 retail stores. And it appears that of the two brands, Joy and cookshop brand Hob, it may be that Hob is the one to survive. Read more...
The 12 stores have been purchased by Louche London and remain in operation. Louche London Ltd is currently in negotiations with landlords and suppliers regarding the future trading of the business.

Little information is available about the purchaser, except that it was only incorporated on August 18 this year. However, a little digging reveals that one of the directors of the new company is none other than Maureen Chadha, co-founder of the original Joy chain.

Interestingly she is also a director of another company, incorporated on the same day called Hob (Clarence Dock) Ltd, a strong indication that the new company may be planning to concentrate on the cookshop part of the business rather than the fashion side.

A statement, issued today blamed the company's collapse on "a number of underperforming shops, principally in shopping centre locations outside London, which undermined the quality of its portfolio. Coupled with the difficulties of the current economic climate, this led to the need for the Company to be placed into Administration."