Collectables stores reopen after administrators called in
A gift store chain, which went into administration last year with the loss of 150 jobs, is to reopen two sites.
Collectables traded from 11 leasehold stores across the North East, Yorkshire and Cumbria and as a furniture retailer from three shops in Stockton.
However, the company called in administrators when the value of its property assets plummeted.
The firm said it was now in a position to reopen two stores at Gateshead's MetroCentre and take on 40 staff.
Managing director David Lewis said: "Our core businesses were never in any trouble so we have been working for the last five months to get our stores back trading.
"We are especially pleased to have been able to pick up the lease on the flagship store in the MetroCentre, which has been empty since we left.
"We are delighted to be back in business and will re-employ staff where we can."
The 28-year-old family firm started on a barrow in the MetroCentre in 1986.