Merino-backed Hawkin's Bazaar appoints administrators

Hawkin's has 177 employees. The company reported a loss of almost £1m on £15.3m in sales in 2018, according to a report by the Guardian.

Primary Capital acquired the company out of administration in 2012. The firm initially acquired a 50% stake for £42m in 2006.

The company was then sold to Merino in 2016 and was the first acquisition in Merino's first institutional fund. Later that year, Unquote sister publication Mergermarket reported that the company was searching for acquisitions, and was backed by equity from Merino and a loan from RBS. The company reported sales of £26.7m for 2015.

During Merino's ownership, the company acquired Bluw in 2016, Grossman in 2018 and Kit For Kids in 2019.

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