Former Tie Rack boss to lead management team
Gift shop chain Past Times been bought just days after parent company Retail Variations collapsed into administration on December 30.

Past Times, which has 95 stores, was bought by private equity firm EPIC Reconstruction.

Former Tie Rack boss Will Hobhouse will take the helm of the chain as the business continues to trade.

Robert Leeming of EPIC Reconstruction said: 'We are excited at the prospect of backing someone with Will's experience of developing retail brands and we are confident that the performance of Past Times can be significantly improved with a combination of an improved product proposition and a restructuring of the operations of the business.'

EPIC Reconstruction specialises in buying and turning around underperforming businesses.

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