The European subsidiary of inventory liquidator Great American Group Inc. has acquired outstanding debt issued by struggling U.K. discount department store chain TJ Hughes.

The 99-year-old Liverpool company had operated 56 stores throughout the United Kingdom, but in June entered into administrative reorganization – a U.K. version of financial reorganization.

Great American, based in Woodland Hills, did not indicate whether it was seeking a stake in the retailer, but said its GA Europe unit is working closely with administrators to dispose of excess TJ Hughes inventory.

Over the last five years, GA Europe has cleared more than $10 billion worth of retail inventory, the company said.