DEPARTMENT store Joplings was last night given hope it may escape closure after it emerged the deadline for securing its sale had been extended to allow extra time for negotiations.
The Sunderland store, which has traded on Wearside for 200 years, had been due to close tomorrow if agreement could not be reached with an unnamed potential buyer.
The future of Joplings, alongside its sister store Robbs, in Hexham, Northumberland was plunged into uncertainty six weeks ago when its parent company Owen Owen went into administration.
Since then, administrator Kroll has wound up the search for a buyer for Robbs - with the store set to trade for the last time tomorrow - but negotiations are still being carried out with a potential suitor for Joplings, in a deal that could save the jobs of its 180 staff.
Last night, Kroll said that the deadline had been pushed back for a short time to give the best possible chance for a deal to be reached.
Phil Duffy, partner at the firm, said: "I can confirm that contract negotiations with all stakeholders are progressing and we remain hopeful of a sale of the business as a going concern. Contract negotiations are at a critical point.
"In order to give these negotiations the best possible chance of success, we will consider a short extension of trading beyond May 12."
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